ATRenew (NYSE:RERE) Stock Price Down 4%

ATRenew Inc. (NYSE:RERE)’s stock price dropped 4% on Monday . The company traded as low as $2.41 and last traded at $2.41. Approximately 270,281 shares were traded during trading, a decline of 73% from the average daily volume of 992,104 shares. The stock had previously closed at $2.51.

ATRenew Stock Performance

The firm’s 50 day moving average is $2.46 and its two-hundred day moving average is $2.14.

ATRenew (NYSE:RERE) last issued its quarterly earnings data on Tuesday, August 20th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). The company had revenue of $519.69 million for the quarter, compared to the consensus estimate of $514.00 million. ATRenew had a positive return on equity of 4.80% and a negative net margin of 0.99%. Analysts expect that ATRenew Inc. will post 0.16 EPS for the current year.

Institutional Trading of ATRenew

Hedge funds have recently bought and sold shares of the company. IvyRock Asset Management HK Ltd bought a new stake in ATRenew during the 4th quarter valued at $67,000. Cubist Systematic Strategies LLC raised its stake in shares of ATRenew by 30.3% during the second quarter. Cubist Systematic Strategies LLC now owns 47,351 shares of the company’s stock valued at $112,000 after purchasing an additional 11,011 shares in the last quarter. Virtu Financial LLC bought a new position in ATRenew in the 1st quarter valued at about $134,000. Marshall Wace LLP increased its stake in ATRenew by 231.8% during the 2nd quarter. Marshall Wace LLP now owns 192,036 shares of the company’s stock valued at $455,000 after buying an additional 134,151 shares during the period. Finally, Renaissance Technologies LLC increased its stake in ATRenew by 26.0% during the 2nd quarter. Renaissance Technologies LLC now owns 560,853 shares of the company’s stock valued at $1,329,000 after buying an additional 115,853 shares during the period. 19.29% of the stock is currently owned by institutional investors.

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.