ATRenew (NYSE:RERE) Shares Down 4.7% – Here’s What Happened

Shares of ATRenew Inc. (NYSE:RERE) fell 4.7% during trading on Wednesday . The company traded as low as $3.31 and last traded at $3.32. 211,907 shares were traded during trading, a decline of 82% from the average session volume of 1,183,923 shares. The stock had previously closed at $3.48.

ATRenew Price Performance

The business’s 50-day moving average price is $2.86 and its two-hundred day moving average price is $2.74. The firm has a market cap of $798.68 million, a price-to-earnings ratio of -65.49, a price-to-earnings-growth ratio of 0.41 and a beta of 0.08.

Hedge Funds Weigh In On ATRenew

A number of institutional investors have recently modified their holdings of RERE. Price T Rowe Associates Inc. MD bought a new stake in ATRenew during the 4th quarter worth about $6,623,000. Invesco Ltd. increased its position in shares of ATRenew by 1,718.6% in the fourth quarter. Invesco Ltd. now owns 1,896,877 shares of the company’s stock worth $5,463,000 after purchasing an additional 1,792,572 shares during the period. Yiheng Capital Management L.P. grew its holdings in shares of ATRenew by 107.7% during the fourth quarter. Yiheng Capital Management L.P. now owns 3,163,117 shares of the company’s stock worth $9,110,000 after purchasing an additional 1,639,859 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of ATRenew by 101.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,636,473 shares of the company’s stock worth $4,713,000 after acquiring an additional 822,998 shares during the period. Finally, Prescott Group Capital Management L.L.C. grew its holdings in ATRenew by 31.3% during the fourth quarter. Prescott Group Capital Management L.L.C. now owns 3,035,436 shares of the company’s stock worth $8,742,000 after buying an additional 724,415 shares in the last quarter. 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.