ATRenew Inc. Sponsored ADR (NYSE:RERE) Short Interest Update

ATRenew Inc. Sponsored ADR (NYSE:RERE) was the target of a significant increase in short interest during the month of August. As of August 31st, there was short interest totaling 2,636,287 shares, an increase of 64.9% from the August 15th total of 1,598,963 shares. Based on an average trading volume of 1,616,004 shares, the short-interest ratio is currently 1.6 days. Approximately 1.3% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. CICC Research assumed coverage on shares of ATRenew in a report on Thursday, August 20th. They issued an “outperform” rating on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of ATRenew in a report on Wednesday, July 29th. UBS Group began coverage on ATRenew in a research report on Tuesday, July 21st. They issued a “buy” rating and a $5.50 target price on the stock. Finally, Wall Street Zen cut ATRenew from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 25th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $5.50.

Institutional Investors Weigh In On ATRenew

Hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC acquired a new position in shares of ATRenew in the first quarter worth $2,368,000. Lazard Asset Management LLC acquired a new stake in shares of ATRenew in the first quarter valued at $540,000. Evergreen Quality Fund GP Ltd. purchased a new position in ATRenew in the fourth quarter valued at $1,429,000. Public Employees Retirement System of Ohio purchased a new position in ATRenew in the second quarter valued at $755,000. Finally, Fideuram Asset Management Ireland dac acquired a new position in ATRenew during the 4th quarter worth $4,764,000. 19.29% of the stock is currently owned by institutional investors and hedge funds.

ATRenew Price Performance

NYSE RERE opened at $3.94 on Thursday. The company has a market cap of $865.53 million, a P/E ratio of 13.60 and a beta of 0.33. The stock has a 50-day moving average of $4.15 and a two-hundred day moving average of $4.46. ATRenew has a 1-year low of $3.50 and a 1-year high of $6.47.

ATRenew (NYSE:RERE) last issued its quarterly earnings results on Thursday, August 20th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. ATRenew had a net margin of 2.01% and a return on equity of 12.32%. The business had revenue of $972.82 million for the quarter, compared to analysts’ expectations of $930.34 million. On average, analysts anticipate that ATRenew will post 0.37 EPS for the current fiscal year.

About ATRenew

ATRenew Inc (NYSE: RERE), formerly known as AiHuiShou, operates a technology-enabled platform for consumer electronics recycling and resale in China. The company focuses primarily on used mobile phones, tablets, laptops, cameras and other digital devices, helping consumers and businesses sell, trade in, recycle and purchase pre-owned electronics.

ATRenew’s services cover the resale process from device collection and inspection to data erasure, quality grading, pricing, refurbishment and fulfillment.