Rui Zhu Sells 4,762 Shares of ATRenew (NYSE:RERE) Stock

ATRenew Inc. Sponsored ADR (NYSE:RERE) Director Rui Zhu sold 4,762 shares of the stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $4.00, for a total value of $19,048.00. Following the completion of the sale, the director directly owned 55,238 shares of the company’s stock, valued at $220,952. The trade was a 7.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

ATRenew Trading Down 2.4%

RERE stock opened at $3.98 on Thursday. The company has a market capitalization of $874.09 million, a P/E ratio of 15.94 and a beta of 0.26. ATRenew Inc. Sponsored ADR has a twelve month low of $2.64 and a twelve month high of $6.47. The business has a 50 day simple moving average of $4.60 and a 200-day simple moving average of $5.16.

ATRenew (NYSE:RERE) last posted its quarterly earnings data on Tuesday, May 19th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.01. ATRenew had a return on equity of 11.48% and a net margin of 1.90%.The business had revenue of $893.46 million during the quarter, compared to the consensus estimate of $856.02 million. Research analysts predict that ATRenew Inc. Sponsored ADR will post 0.4 EPS for the current fiscal year.

Hedge Funds Weigh In On ATRenew

Several hedge funds and other institutional investors have recently modified their holdings of the company. Wells Fargo & Company MN acquired a new position in ATRenew during the 4th quarter worth approximately $30,000. Caitong International Asset Management Co. Ltd raised its position in shares of ATRenew by 10,014.1% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 6,473 shares of the company’s stock valued at $34,000 after purchasing an additional 6,409 shares in the last quarter. Brevan Howard Capital Management LP acquired a new position in shares of ATRenew in the 3rd quarter valued at approximately $49,000. Hsbc Holdings PLC acquired a new position in shares of ATRenew in the 4th quarter valued at approximately $67,000. Finally, Van ECK Associates Corp acquired a new position in shares of ATRenew in the 3rd quarter valued at approximately $83,000. 19.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on RERE. Wall Street Zen upgraded ATRenew from a “buy” rating to a “strong-buy” rating in a research report on Sunday, March 22nd. Weiss Ratings cut ATRenew from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 1st. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

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. The company was formerly known as AiHuiShou International Co Ltd.