ATRenew (NYSE:RERE) Trading Up 8.4% - Here's Why

ATRenew Inc. (NYSE:RERE - Get Free Report) shot up 8.4% during mid-day trading on Tuesday . The stock traded as high as $2.73 and last traded at $2.72. 344,761 shares changed hands during mid-day trading, a decline of 67% from the average session volume of 1,034,097 shares. The stock had previously closed at $2.51.ATRenew Stock PerformanceThe company has a market cap of $641.38 million, a price-to-earnings ratio of -22.33, a PEG ratio of 0.60 and a beta of -0.16. The firm's 50-day moving average price is $2.52 and its 200 day moving average price is $2.37. ATRenew (NYSE:RERE - Get Free Report) last issued its earnings results on Tuesday, August 20th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.01). ATRenew had a negative net margin of 0.99% and a positive return on equity of 4.80%. The business had revenue of $519.69 million for the quarter, compared to the consensus estimate of $514.00 million. As a group, equities research analysts predict that ATRenew Inc. will post 0.16 EPS for the current fiscal year. Hedge Funds Weigh In On ATRenewA number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC raised its position in shares of ATRenew by 30.3% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 47,351 shares of the company's stock valued at $112,000 after acquiring an additional 11,011 shares during the period. Virtu Financial LLC bought a new position in shares of ATRenew during the first quarter worth $134,000. Marshall Wace LLP grew its holdings in shares of ATRenew by 231.8% in the 2nd quarter. Marshall Wace LLP now owns 192,036 shares of the company's stock valued at $455,000 after buying an additional 134,151 shares during the period. Renaissance Technologies LLC increased its position in shares of ATRenew by 26.0% in the 2nd quarter. Renaissance Technologies LLC now owns 560,853 shares of the company's stock valued at $1,329,000 after buying an additional 115,853 shares in the last quarter. Finally, BRIGHT VALLEY CAPITAL Ltd acquired a new stake in ATRenew during the 2nd quarter worth $1,396,000. Institutional investors own 19.29% of the company's stock. ATRenew Company Profile (Get Free Report)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.Featured StoriesFive stocks we like better than ATRenewHow to Choose Top Rated StocksHow Verizon Could Offer Stress-Free Double-Digit Returns in 2025What Investors Need to Know About Upcoming IPOsCan Roche Challenge Lilly and Novo in the Weight Loss Market?What Are Trending Stocks? Trending Stocks ExplainedRoblox Stock: Key Metrics Surge, Is This the Perfect Entry?This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.→ Don’t Miss Out! Get 2 Hot AI Stocks for Under $10/Share 🚀 (From Darwin) (Ad)Should you invest $1,000 in ATRenew right now?Before you consider ATRenew, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and ATRenew wasn't on the list.While ATRenew currently has a "hold" rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here