ATRenew (NYSE:RERE) Trading Down 4.7% – Here’s Why

ATRenew Inc. (NYSE:RERE) was down 4.7% during mid-day trading on Wednesday . The stock traded as low as $3.31 and last traded at $3.32. Approximately 211,907 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 1,183,923 shares. The stock had previously closed at $3.48.

ATRenew Price Performance

The company’s fifty day moving average price is $2.87 and its 200 day moving average price is $2.74. The company has a market cap of $803.56 million, a PE ratio of -65.89, a P/E/G ratio of 0.41 and a beta of 0.08.

Institutional Investors Weigh In On ATRenew

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. NewEdge Advisors LLC purchased a new position in shares of ATRenew in the 4th quarter worth approximately $29,000. Walleye Capital LLC bought a new stake in ATRenew during the third quarter worth $32,000. QRG Capital Management Inc. purchased a new position in ATRenew in the fourth quarter worth $48,000. Squarepoint Ops LLC bought a new position in ATRenew in the 4th quarter valued at $50,000. Finally, Russell Investments Group Ltd. purchased a new stake in shares of ATRenew during the 4th quarter valued at $82,000. Hedge funds and other 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.