ATRenew (NYSE:RERE) Shares Up 7.7% – Here’s Why

Shares of ATRenew Inc. (NYSE:RERE) traded up 7.7% during trading on Tuesday . The company traded as high as $2.96 and last traded at $2.95. 1,335,675 shares changed hands during trading, an increase of 32% from the average session volume of 1,010,905 shares. The stock had previously closed at $2.74.

ATRenew Stock Performance

The company’s 50 day moving average price is $2.57 and its 200-day moving average price is $2.49. The stock has a market cap of $838.91 million, a P/E ratio of -68.79, a price-to-earnings-growth ratio of 0.56 and a beta of -0.13.

Institutional Trading of ATRenew

Institutional investors and hedge funds have recently made changes to their positions in the company. Walleye Capital LLC purchased a new stake in shares of ATRenew in the third quarter valued at about $32,000. PFG Investments LLC purchased a new stake in shares of ATRenew in the third quarter valued at about $95,000. Cubist Systematic Strategies LLC increased its holdings in ATRenew by 30.3% during the second quarter. Cubist Systematic Strategies LLC now owns 47,351 shares of the company’s stock worth $112,000 after buying an additional 11,011 shares during the last quarter. Virtu Financial LLC purchased a new stake in ATRenew during the first quarter worth about $134,000. Finally, WT Asset Management Ltd purchased a new stake in ATRenew during the third quarter worth about $159,000. Hedge funds and other institutional investors own 19.29% of the company’s stock.

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.