ATRenew (NYSE:RERE) Sees Large Volume Increase – Should You Buy?

ATRenew Inc. (NYSE:RERE) shares saw unusually-high trading volume on Tuesday . Approximately 533,547 shares were traded during mid-day trading, a decline of 7% from the previous session’s volume of 573,477 shares.The stock last traded at $2.95 and had previously closed at $2.86.

ATRenew Stock Performance

The business has a 50 day simple moving average of $2.88 and a 200-day simple moving average of $2.64. The firm has a market capitalization of $720.64 million, a price-to-earnings ratio of -58.89, a P/E/G ratio of 0.37 and a beta of 0.10.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in RERE. Walleye Capital LLC acquired a new position in ATRenew in the 3rd quarter valued at about $32,000. PFG Investments LLC purchased a new position in ATRenew in the third quarter worth $95,000. Cubist Systematic Strategies LLC grew its stake in shares of ATRenew by 30.3% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 47,351 shares of the company’s stock worth $112,000 after purchasing an additional 11,011 shares during the period. SG Americas Securities LLC purchased a new stake in shares of ATRenew during the 4th quarter worth approximately $137,000. Finally, WT Asset Management Ltd acquired a new stake in ATRenew in the 3rd quarter valued at about $159,000. Hedge funds and other institutional investors own 19.29% of the company’s stock.

About ATRenew

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.