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

Shares of ATRenew Inc. (NYSE:RERE) gapped up prior to trading on Tuesday . The stock had previously closed at $3.18, but opened at $3.35. ATRenew shares last traded at $3.48, with a volume of 1,123,764 shares traded.

ATRenew Stock Up 5.8 %

The company’s fifty day moving average price is $2.84 and its two-hundred day moving average price is $2.73. The firm has a market cap of $820.63 million, a PE ratio of -67.29, a P/E/G ratio of 0.41 and a beta of 0.08.

ATRenew (NYSE:RERE) last released its earnings results on Tuesday, March 11th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.02). ATRenew had a positive return on equity of 6.87% and a negative net margin of 0.53%. As a group, analysts predict that ATRenew Inc. will post 0.09 earnings per share for the current year.

Hedge Funds Weigh In On ATRenew

Institutional investors and hedge funds have recently made changes to their positions in the stock. Harvest Fund Management Co. Ltd boosted its stake in shares of 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 acquiring an additional 649,214 shares in the last quarter. Walleye Capital LLC purchased a new stake in shares of ATRenew in the 3rd quarter worth about $32,000. Centiva Capital LP increased its holdings in ATRenew by 342.2% during the 3rd quarter. Centiva Capital LP now owns 75,483 shares of the company’s stock valued at $210,000 after acquiring an additional 58,413 shares in the last quarter. Harber Asset Management LLC raised its position in ATRenew by 14.6% during the third quarter. Harber Asset Management LLC now owns 1,094,617 shares of the company’s stock worth $3,043,000 after acquiring an additional 139,842 shares during the last quarter. Finally, Quadrature Capital Ltd raised its position in shares of ATRenew by 67.8% during the 3rd quarter. Quadrature Capital Ltd now owns 70,729 shares of the company’s stock worth $197,000 after purchasing an additional 28,569 shares during the last quarter. 19.29% of the stock is owned by institutional investors and hedge funds.

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.