ATRenew (NYSE:RERE) Stock Price Down 5.8% – What’s Next?

ATRenew Inc. (NYSE:RERE)’s share price was down 5.8% on Thursday . The stock traded as low as $3.04 and last traded at $2.99. Approximately 225,724 shares traded hands during mid-day trading, a decline of 63% from the average daily volume of 615,548 shares. The stock had previously closed at $3.17.

ATRenew Stock Up 3.2 %

The firm’s 50-day moving average price is $2.83 and its two-hundred day moving average price is $2.68. The firm has a market capitalization of $749.90 million, a PE ratio of -61.49, a P/E/G ratio of 0.42 and a beta of 0.10.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Susquehanna Fundamental Investments LLC purchased a new position in shares of ATRenew in the fourth quarter worth approximately $101,000. Price T Rowe Associates Inc. MD purchased a new position in shares of ATRenew in the fourth quarter worth approximately $6,623,000. Marshall Wace LLP grew its position in ATRenew by 202.0% during the fourth quarter. Marshall Wace LLP now owns 643,151 shares of the company’s stock valued at $1,852,000 after purchasing an additional 430,164 shares in the last quarter. NewEdge Advisors LLC purchased a new position in ATRenew during the fourth quarter valued at approximately $29,000. Finally, Walleye Capital LLC grew its position in ATRenew by 3,661.6% during the fourth quarter. Walleye Capital LLC now owns 433,859 shares of the company’s stock valued at $1,250,000 after purchasing an additional 422,325 shares in the last quarter. 19.29% of the stock is owned by hedge funds and other institutional investors.

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.