ATRenew (NYSE:RERE) Shares Gap Down – Here’s Why

ATRenew Inc. (NYSE:RERE) shares gapped down prior to trading on Friday . The stock had previously closed at $3.44, but opened at $3.35. ATRenew shares last traded at $3.36, with a volume of 938,873 shares changing hands.

ATRenew Stock Performance

The business’s 50 day simple moving average is $2.59 and its 200 day simple moving average is $2.50.

Institutional Trading of ATRenew

Several institutional investors have recently made changes to their positions in RERE. Walleye Capital LLC purchased a new position in ATRenew in the third quarter worth approximately $32,000. PFG Investments LLC acquired a new position in shares of ATRenew in the 3rd quarter valued at $95,000. Cubist Systematic Strategies LLC grew its holdings in shares of ATRenew by 30.3% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 47,351 shares of the company’s stock worth $112,000 after purchasing an additional 11,011 shares during the period. Virtu Financial LLC purchased a new position in shares of ATRenew during the 1st quarter worth $134,000. Finally, WT Asset Management Ltd purchased a new stake in ATRenew in the 3rd quarter valued at about $159,000. Hedge funds and other 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.