ATRenew (NYSE:RERE) Shares Gap Up – Here’s What Happened

Shares of ATRenew Inc. (NYSE:RERE) gapped up before the market opened on Friday . The stock had previously closed at $2.98, but opened at $3.18. ATRenew shares last traded at $3.03, with a volume of 210,516 shares.

ATRenew Price Performance

The firm has a 50 day moving average of $2.83 and a 200-day moving average of $2.68. The stock has a market capitalization of $749.90 million, a P/E ratio of -61.49, a price-to-earnings-growth ratio of 0.42 and a beta of 0.10.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. NewEdge Advisors LLC bought a new stake in ATRenew in the 4th quarter valued at $29,000. Walleye Capital LLC acquired a new stake in shares of ATRenew during the 3rd quarter valued at about $32,000. QRG Capital Management Inc. bought a new stake in ATRenew in the fourth quarter valued at about $48,000. Russell Investments Group Ltd. acquired a new position in ATRenew in the fourth quarter worth about $82,000. Finally, PFG Investments LLC acquired a new stake in ATRenew during the third quarter valued at approximately $95,000. 19.29% of the stock is currently owned by institutional investors and hedge funds.

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.