ATRenew Inc. (NYSE:RERE) Sees Large Decline in Short Interest

ATRenew Inc. (NYSE:RERE) was the recipient of a significant decrease in short interest in the month of October. As of October 15th, there was short interest totalling 510,700 shares, a decrease of 35.4% from the September 30th total of 790,900 shares. Based on an average daily volume of 1,120,000 shares, the days-to-cover ratio is currently 0.5 days.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of RERE. Acadian Asset Management LLC acquired a new stake in shares of ATRenew in the second quarter valued at $3,328,000. BRIGHT VALLEY CAPITAL Ltd acquired a new stake in shares of ATRenew during the second quarter worth about $1,396,000. Marshall Wace LLP raised its position in shares of ATRenew by 231.8% during the second quarter. Marshall Wace LLP now owns 192,036 shares of the company’s stock worth $455,000 after purchasing an additional 134,151 shares during the period. Renaissance Technologies LLC raised its position in shares of ATRenew by 26.0% during the second quarter. Renaissance Technologies LLC now owns 560,853 shares of the company’s stock worth $1,329,000 after purchasing an additional 115,853 shares during the period. Finally, Virtu Financial LLC acquired a new stake in shares of ATRenew during the first quarter worth about $134,000. 19.29% of the stock is currently owned by institutional investors and hedge funds.

ATRenew Trading Up 2.4 %

ATRenew stock traded up $0.06 during trading hours on Friday, reaching $2.58. 689,788 shares of the company were exchanged, compared to its average volume of 1,032,338. The firm has a market cap of $629.19 million, a price-to-earnings ratio of -21.50, a PEG ratio of 0.60 and a beta of -0.16. The stock has a 50-day moving average of $2.51 and a 200 day moving average of $2.39. ATRenew has a 12 month low of $1.01 and a 12 month high of $3.18.

ATRenew (NYSE:RERE) last posted its quarterly earnings data on Tuesday, August 20th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.01). ATRenew had a negative net margin of 0.99% and a positive return on equity of 4.80%. The business had revenue of $519.69 million during the quarter, compared to the consensus estimate of $514.00 million. As a group, research analysts forecast that ATRenew will post 0.16 EPS for the current year.

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.