ATRenew (NYSE:RERE) Stock Price Up 1.8% – Here’s What Happened

ATRenew Inc. (NYSE:RERE) shot up 1.8% during mid-day trading on Friday . The company traded as high as $2.87 and last traded at $2.86. 163,656 shares were traded during mid-day trading, a decline of 85% from the average session volume of 1,063,802 shares. The stock had previously closed at $2.81.

ATRenew Price Performance

The stock has a market capitalization of $736.49 million, a PE ratio of -60.39, a price-to-earnings-growth ratio of 0.60 and a beta of 0.07. The business’s fifty day moving average price is $2.79 and its two-hundred day moving average price is $2.57.

Hedge Funds Weigh In On ATRenew

A number of institutional investors have recently bought and sold shares of the business. Acadian Asset Management LLC acquired a new stake in shares of ATRenew in the second quarter worth $3,328,000. Harber Asset Management LLC raised its stake in shares of ATRenew by 14.6% during the 3rd quarter. Harber Asset Management LLC now owns 1,094,617 shares of the company’s stock valued at $3,043,000 after buying an additional 139,842 shares during the last quarter. Harvest Fund Management Co. Ltd lifted its holdings in shares of ATRenew by 162.3% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,049,214 shares of the company’s stock valued at $2,906,000 after buying an additional 649,214 shares during the period. BRIGHT VALLEY CAPITAL Ltd acquired a new stake in ATRenew during the second quarter worth about $1,396,000. Finally, Renaissance Technologies LLC raised its position in ATRenew by 26.0% during the second quarter. Renaissance Technologies LLC now owns 560,853 shares of the company’s stock valued at $1,329,000 after acquiring an additional 115,853 shares in the last quarter. 19.29% of the stock is owned by hedge funds and other 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.