ATRenew (NYSE:RERE) Stock Price Down 5.7%

ATRenew Inc. (NYSE:RERE)’s share price was down 5.7% during mid-day trading on Wednesday . The company traded as low as $2.48 and last traded at $2.49. Approximately 1,449,870 shares changed hands during mid-day trading, an increase of 65% from the average daily volume of 878,649 shares. The stock had previously closed at $2.64.

ATRenew Stock Performance

The stock has a 50 day moving average of $2.01 and a 200-day moving average of $1.65. The firm has a market capitalization of $559.68 million, a P/E ratio of -19.08, a PEG ratio of 0.51 and a beta of -0.25.

ATRenew (NYSE:RERE) last announced its quarterly earnings data on Tuesday, March 12th. The company reported $0.03 earnings per share (EPS) for the quarter. ATRenew had a positive return on equity of 2.74% and a negative net margin of 1.44%. The business had revenue of $545.58 million for the quarter. As a group, sell-side analysts expect that ATRenew Inc. will post 0.18 EPS for the current year.

Institutional Investors Weigh In On ATRenew

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Lansdowne Partners UK LLP bought a new position in shares of ATRenew in the third quarter worth approximately $1,174,000. IvyRock Asset Management HK Ltd bought a new position in shares of ATRenew in the fourth quarter worth approximately $67,000. Finally, Virtu Financial LLC bought a new position in shares of ATRenew in the first quarter worth approximately $134,000. 19.29% of the stock is currently owned by 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.