ATRenew (NYSE:RERE) Shares Down 5% – Time to Sell?

ATRenew Inc. (NYSE:RERE)’s share price dropped 5% during mid-day trading on Tuesday . The company traded as low as $3.13 and last traded at $3.20. Approximately 539,907 shares were traded during mid-day trading, a decline of 48% from the average daily volume of 1,037,734 shares. The stock had previously closed at $3.37.

ATRenew Stock Performance

The firm’s 50 day moving average is $2.64 and its 200 day moving average is $2.50. The stock has a market cap of $816.96 million, a P/E ratio of -66.99, a price-to-earnings-growth ratio of 0.67 and a beta of 0.07.

Institutional Trading of ATRenew

Several hedge funds and other institutional investors have recently made changes to their positions in RERE. Quadrature Capital Ltd increased its position in ATRenew by 67.8% during the 3rd quarter. Quadrature Capital Ltd now owns 70,729 shares of the company’s stock valued at $197,000 after buying an additional 28,569 shares in the last quarter. Harber Asset Management LLC increased its holdings in shares of ATRenew by 14.6% during the third quarter. Harber Asset Management LLC now owns 1,094,617 shares of the company’s stock valued at $3,043,000 after acquiring an additional 139,842 shares in the last quarter. Centiva Capital LP raised its position in shares of ATRenew by 342.2% in the 3rd quarter. Centiva Capital LP now owns 75,483 shares of the company’s stock valued at $210,000 after purchasing an additional 58,413 shares during the last quarter. Walleye Capital LLC acquired a new stake in ATRenew in the 3rd quarter worth approximately $32,000. Finally, Harvest Fund Management Co. Ltd grew its position in ATRenew by 162.3% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,049,214 shares of the company’s stock worth $2,906,000 after purchasing an additional 649,214 shares during the last quarter. Hedge funds and other institutional investors own 19.29% of the company’s stock.

ATRenew Company Profile

ATRenew Inc, through its subsidiaries, operates pre-owned consumer electronics transactions and services platform in the People's Republic of China. It primarily sells mobile phones, laptops, tablets, drones, digital cameras; and vintage bags, watches, liquor, gold, and various household goods through its online platforms and offline stores, as well as provides services to third-party merchants to sell the products through its platforms.