ATRenew (NYSE:RERE) Stock Price Down 1.6% – Here’s What Happened

Shares of ATRenew Inc. Sponsored ADR (NYSE:RERE) dropped 1.6% on Thursday . The stock traded as low as $3.97 and last traded at $4.0250. 743,663 shares changed hands during trading, a decline of 22% from the average session volume of 948,616 shares. The stock had previously closed at $4.09.

Analyst Ratings Changes

A number of analysts have recently commented on RERE shares. Weiss Ratings lowered ATRenew from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 1st. Wall Street Zen upgraded ATRenew from a “buy” rating to a “strong-buy” rating in a report on Sunday, March 22nd. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, ATRenew has an average rating of “Hold”.

ATRenew Stock Down 1.4%

The firm has a market cap of $867.73 million, a PE ratio of 15.82 and a beta of 0.29. The company has a 50-day simple moving average of $4.28 and a two-hundred day simple moving average of $5.00.

ATRenew (NYSE:RERE) last posted its quarterly earnings data on Friday, May 15th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.07 by $0.01. ATRenew had a return on equity of 11.48% and a net margin of 1.90%.The business had revenue of $893.46 million for the quarter, compared to the consensus estimate of $856.01 million. As a group, equities analysts predict that ATRenew Inc. Sponsored ADR will post 0.4 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of RERE. SG Americas Securities LLC purchased a new position in shares of ATRenew during the fourth quarter worth about $1,847,000. Precision Wealth Strategies LLC purchased a new stake in ATRenew in the fourth quarter valued at approximately $1,334,000. Evergreen Quality Fund GP Ltd. purchased a new stake in ATRenew in the fourth quarter valued at approximately $1,429,000. Oasis Management Co Ltd. bought a new stake in ATRenew during the third quarter valued at approximately $460,000. Finally, Fideuram Asset Management Ireland dac bought a new stake in ATRenew during the fourth quarter valued at approximately $4,764,000. 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.