ATRenew (NYSE:RERE) Shares Gap Up – Time to Buy?

ATRenew Inc. (NYSE:RERE) shares gapped up prior to trading on Friday . The stock had previously closed at $2.98, but opened at $3.18. ATRenew shares last traded at $3.03, with a volume of 210,516 shares traded.

ATRenew Price Performance

The firm’s 50-day moving average is $2.84 and its two-hundred day moving average is $2.68. The company has a market cap of $747.46 million, a P/E ratio of -61.29, a PEG ratio of 0.42 and a beta of 0.10.

Institutional Investors Weigh In On ATRenew

Several large investors have recently bought and sold shares of RERE. PFG Investments LLC bought a new stake in ATRenew in the third quarter worth $95,000. WT Asset Management Ltd bought a new stake in ATRenew in the third quarter worth $159,000. Harvest Fund Management Co. Ltd increased its position in ATRenew by 162.3% in the third quarter. Harvest Fund Management Co. Ltd now owns 1,049,214 shares of the company’s stock worth $2,906,000 after purchasing an additional 649,214 shares during the last quarter. Walleye Capital LLC bought a new stake in ATRenew in the third quarter worth $32,000. Finally, Centiva Capital LP increased its position in ATRenew by 342.2% during the third quarter. Centiva Capital LP now owns 75,483 shares of the company’s stock valued at $210,000 after acquiring an additional 58,413 shares during the last quarter. Institutional investors own 19.29% of the company’s stock.

ATRenew Company Profile

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.