ATRenew (NYSE:RERE) Sets New 1-Year High - Here's What Happened
ATRenew Inc. (NYSE:RERE) shares hit a new 52-week high, trading at $4.94 with a volume of 651,956 shares. Analysts have mixed ratings, with a consensus "Hold" rating. Hedge funds have increased their holdings, with 19.29% of the stock owned by institutional investors. ATRenew operates a platform for pre-owned electronics in China. Despite the stock's rise, top analysts suggest better investment options.
ATRenew Inc. Sponsored ADR (NYSE:RERE - Get Free Report) shares reached a new 52-week high on Wednesday . The company traded as high as $4.94 and last traded at $4.9150, with a volume of 651956 shares traded. The stock had previously closed at $4.87.
Analyst Ratings Changes
RERE has been the subject of a number of recent research reports. Weiss Ratings reissued a "hold (c)" rating on shares of ATRenew in a report on Monday. Wall Street Zen raised ATRenew from a "buy" rating to a "strong-buy" rating in a research report on Saturday, November 22nd. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, ATRenew presently has a consensus rating of "Hold".
Read Our Latest Report on RERE
ATRenew Trading Up 0.7%
The stock has a market cap of $1.20 billion, a PE ratio of 30.69 and a beta of 0.20. The firm has a fifty day simple moving average of $4.18 and a two-hundred day simple moving average of $3.78.
Hedge Funds Weigh In On ATRenew
Hedge funds and other institutional investors have recently modified their holdings of the company. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of ATRenew during the second quarter worth about $406,000. Eschler Asset Management LLP lifted its stake in ATRenew by 163.6% in the first quarter. Eschler Asset Management LLP now owns 226,700 shares of the company's stock worth $666,000 after acquiring an additional 140,700 shares during the period. Acadian Asset Management LLC boosted its holdings in ATRenew by 27.4% in the first quarter. Acadian Asset Management LLC now owns 2,692,149 shares of the company's stock valued at $7,899,000 after acquiring an additional 579,334 shares in the last quarter. Invesco Ltd. increased its position in ATRenew by 45.6% during the 1st quarter. Invesco Ltd. now owns 2,760,925 shares of the company's stock valued at $8,117,000 after purchasing an additional 864,048 shares during the period. Finally, Prescott Group Capital Management L.L.C. raised its holdings in ATRenew by 4.0% in the 2nd quarter. Prescott Group Capital Management L.L.C. now owns 3,155,436 shares of the company's stock worth $10,444,000 after purchasing an additional 120,000 shares in the last quarter. 19.29% of the stock is currently owned by hedge funds and other institutional investors.
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.
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