ATRenew (NYSE:RERE) Shares Up 7.7% – Here’s What Happened

ATRenew Inc. (NYSE:RERE)’s stock price rose 7.7% on Tuesday . The stock traded as high as $2.96 and last traded at $2.95. Approximately 1,335,675 shares were traded during trading, an increase of 32% from the average daily volume of 1,010,905 shares. The stock had previously closed at $2.74.

ATRenew Price Performance

The business has a 50-day moving average of $2.56 and a 200-day moving average of $2.49. The company has a market capitalization of $758.44 million, a P/E ratio of -58.99, a P/E/G ratio of 0.58 and a beta of -0.13.

Institutional Investors Weigh In On ATRenew

Several institutional investors have recently made changes to their positions in the company. Cubist Systematic Strategies LLC lifted its position 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 worth $112,000 after purchasing an additional 11,011 shares during the last quarter. Walleye Capital LLC purchased a new position in ATRenew in the 3rd quarter worth about $32,000. Quadrature Capital Ltd lifted its holdings in ATRenew by 67.8% during the 3rd quarter. Quadrature Capital Ltd now owns 70,729 shares of the company’s stock valued at $197,000 after buying an additional 28,569 shares in the last quarter. PFG Investments LLC purchased a new stake in ATRenew in the 3rd quarter valued at about $95,000. Finally, WT Asset Management Ltd bought a new position in ATRenew in the 3rd quarter worth about $159,000. 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.