ATRenew (NYSE:RERE) Shares Gap Down – Should You Sell?

ATRenew Inc. (NYSE:RERE)’s share price gapped down before the market opened on Friday . The stock had previously closed at $3.44, but opened at $3.35. ATRenew shares last traded at $3.36, with a volume of 938,873 shares.

ATRenew Stock Down 2.3 %

The company has a fifty day moving average price of $2.59 and a 200-day moving average price of $2.50.

Institutional Trading of ATRenew

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Walleye Capital LLC acquired a new position in ATRenew during the third quarter worth $32,000. PFG Investments LLC purchased a new position in ATRenew in the 3rd quarter valued at about $95,000. Cubist Systematic Strategies LLC boosted its holdings in ATRenew by 30.3% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 47,351 shares of the company’s stock worth $112,000 after buying an additional 11,011 shares during the last quarter. Virtu Financial LLC purchased a new stake in ATRenew during the 1st quarter worth approximately $134,000. Finally, WT Asset Management Ltd acquired a new position in shares of ATRenew during the third quarter valued at approximately $159,000. 19.29% of the stock is currently owned by hedge funds and other 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.