ATRenew (NYSE:RERE) Shares Gap Down to $2.81

ATRenew Inc. (NYSE:REREGet Rating) gapped down before the market opened on Tuesday . The stock had previously closed at $2.81, but opened at $2.72. ATRenew shares last traded at $2.74, with a volume of 700 shares.

ATRenew Stock Performance

The firm has a 50 day moving average of $2.80 and a 200 day moving average of $2.95.

ATRenew (NYSE:REREGet Rating) last announced its quarterly earnings results on Wednesday, August 24th. The company reported ($0.03) earnings per share (EPS) for the quarter. The firm had revenue of $320.35 million during the quarter. ATRenew had a negative return on equity of 4.43% and a negative net margin of 5.81%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in RERE. BlackRock Inc. lifted its holdings in shares of ATRenew by 37.1% in the first quarter. BlackRock Inc. now owns 685,409 shares of the company’s stock valued at $2,426,000 after purchasing an additional 185,409 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in shares of ATRenew by 54.7% in the first quarter. Hsbc Holdings PLC now owns 508,624 shares of the company’s stock valued at $1,783,000 after purchasing an additional 179,929 shares in the last quarter. Prescott Group Capital Management L.L.C. lifted its holdings in shares of ATRenew by 111.5% in the first quarter. Prescott Group Capital Management L.L.C. now owns 114,000 shares of the company’s stock valued at $404,000 after purchasing an additional 60,100 shares in the last quarter. Virtu Financial LLC bought a new position in shares of ATRenew in the second quarter valued at approximately $155,000. Finally, Renaissance Technologies LLC bought a new position in shares of ATRenew in the second quarter valued at approximately $85,000. Institutional investors own 9.46% of the company’s stock.

About ATRenew

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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, household products, and bags through its online platforms and offline stores, as well as provides services to third-party merchants to sell the products through its platforms.

Further Reading

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