ATRenew (NYSE:RERE) Stock Price Down 4%

ATRenew Inc. (NYSE:RERE) shares fell 4% during mid-day trading on Monday . The stock traded as low as $2.41 and last traded at $2.41. 270,281 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 992,104 shares. The stock had previously closed at $2.51.

ATRenew Trading Down 2.0 %

The stock has a market cap of $582.85 million, a price-to-earnings ratio of -19.92, a P/E/G ratio of 0.57 and a beta of -0.18. The company has a 50 day simple moving average of $2.46 and a 200-day simple moving average of $2.16.

ATRenew (NYSE:RERE) last released its quarterly earnings results on Tuesday, August 20th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). ATRenew had a positive return on equity of 4.80% and a negative net margin of 0.99%. The firm had revenue of $519.69 million for the quarter, compared to analyst estimates of $514.00 million. Equities analysts forecast that ATRenew Inc. will post 0.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ATRenew

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC acquired a new stake in ATRenew in the 2nd quarter valued at about $3,328,000. BRIGHT VALLEY CAPITAL Ltd bought a new stake in ATRenew in the second quarter valued at approximately $1,396,000. Marshall Wace LLP lifted its position in shares of ATRenew by 231.8% in the second 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 last quarter. Renaissance Technologies LLC boosted its stake in shares of ATRenew by 26.0% during the 2nd quarter. Renaissance Technologies LLC now owns 560,853 shares of the company’s stock worth $1,329,000 after acquiring an additional 115,853 shares during the period. Finally, Virtu Financial LLC acquired a new position in shares of ATRenew during the 1st quarter worth approximately $134,000. Institutional investors own 19.29% of the company’s stock.

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.