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

ATRenew Inc. (NYSE:RERE)’s share price rose 5.1% during trading on Wednesday . The company traded as high as $3.17 and last traded at $3.17. Approximately 192,904 shares were traded during 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 firm has a market cap of $774.29 million, a PE ratio of -63.49, a PEG ratio of 0.41 and a beta of 0.08. The firm has a fifty day simple moving average of $2.97 and a two-hundred day simple moving average of $2.80.

Institutional Investors Weigh In On ATRenew

Several large investors have recently bought and sold shares of RERE. Prescott Group Capital Management L.L.C. grew its stake in shares of ATRenew by 31.3% in the 4th quarter. Prescott Group Capital Management L.L.C. now owns 3,035,436 shares of the company’s stock worth $8,742,000 after buying an additional 724,415 shares in the last quarter. Squarepoint Ops LLC purchased a new position in ATRenew during the 4th quarter valued at $50,000. Two Sigma Investments LP grew its position in ATRenew by 38.2% in the 4th quarter. Two Sigma Investments LP now owns 108,516 shares of the company’s stock valued at $313,000 after acquiring an additional 30,000 shares during the last quarter. Man Group plc purchased a new stake in ATRenew in the fourth quarter worth $325,000. Finally, Millennium Management LLC lifted its position in shares of ATRenew by 252.3% during the fourth quarter. Millennium Management LLC now owns 659,508 shares of the company’s stock worth $1,899,000 after purchasing an additional 472,322 shares during the last quarter. 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.