ATRenew (NYSE:RERE) Trading Up 8.9% – Should You Buy?

ATRenew Inc. Sponsored ADR (NYSE:RERE) shares rose 8.9% during trading on Wednesday . The company traded as high as $6.27 and last traded at $6.1550. Approximately 1,176,277 shares were traded during mid-day trading, an increase of 2% from the average daily volume of 1,152,163 shares. The stock had previously closed at $5.65.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RERE. Weiss Ratings restated a “hold (c-)” rating on shares of ATRenew in a report on Monday, December 29th. Wall Street Zen upgraded ATRenew from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 31st. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, ATRenew currently has an average rating of “Hold”.

ATRenew Price Performance

The firm has a 50 day moving average of $5.71 and a 200-day moving average of $4.85.

Hedge Funds Weigh In On ATRenew

Hedge funds have recently bought and sold shares of the company. Wells Fargo & Company MN acquired a new stake in shares of ATRenew in the 4th quarter valued at $30,000. Caitong International Asset Management Co. Ltd boosted its stake in ATRenew by 10,014.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 6,473 shares of the company’s stock valued at $34,000 after buying an additional 6,409 shares in the last quarter. Brevan Howard Capital Management LP acquired a new stake in ATRenew in the third quarter valued at about $49,000. Van ECK Associates Corp bought a new position in shares of ATRenew in the third quarter worth about $83,000. Finally, Central Asset Investments & Management Holdings HK Ltd bought a new position in ATRenew in the 4th quarter valued at approximately $101,000. 19.29% of the stock is owned by 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. The company was formerly known as AiHuiShou International Co Ltd.