ATRenew (NYSE:RERE) Stock Price Down 4% – Here’s Why

ATRenew Inc. (NYSE:RERE)’s share price was down 4% on Thursday . The company traded as low as $3.19 and last traded at $3.23. Approximately 391,132 shares were traded during trading, a decline of 65% from the average daily volume of 1,108,973 shares. The stock had previously closed at $3.36.

ATRenew Stock Performance

The company has a market capitalization of $779.17 million, a PE ratio of -64.09, a PEG ratio of 0.41 and a beta of 0.08. The stock’s 50 day moving average is $2.93 and its 200 day moving average is $2.78.

Hedge Funds Weigh In On ATRenew

Large investors have recently made changes to their positions in the stock. Harvest Fund Management Co. Ltd lifted its holdings in ATRenew by 162.3% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,049,214 shares of the company’s stock worth $2,906,000 after purchasing an additional 649,214 shares in the last quarter. Walleye Capital LLC bought a new stake in shares of ATRenew during the third quarter valued at about $32,000. Centiva Capital LP lifted its holdings in shares of ATRenew by 342.2% in the third quarter. Centiva Capital LP now owns 75,483 shares of the company’s stock worth $210,000 after buying an additional 58,413 shares in the last quarter. Harber Asset Management LLC boosted its position in shares of ATRenew by 14.6% in the third quarter. Harber Asset Management LLC now owns 1,094,617 shares of the company’s stock valued at $3,043,000 after acquiring an additional 139,842 shares during the period. Finally, Quadrature Capital Ltd grew its stake in ATRenew by 67.8% during the third quarter. Quadrature Capital Ltd now owns 70,729 shares of the company’s stock valued at $197,000 after acquiring an additional 28,569 shares in the last quarter. 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.