ATRenew (NYSE:RERE) Trading Up 5.1% – Still a Buy?

ATRenew Inc. (NYSE:RERE) rose 5.1% on Wednesday . The company traded as high as $3.17 and last traded at $3.17. Approximately 192,904 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 1,108,153 shares. The stock had previously closed at $3.01.

ATRenew Stock Performance

The stock has a fifty day simple moving average of $3.00 and a 200-day simple moving average of $2.80. The stock has a market cap of $762.10 million, a P/E ratio of -62.49, a PEG ratio of 0.41 and a beta of 0.08.

Institutional Investors Weigh In On ATRenew

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