ATRenew (NYSE:RERE) Shares Gap Up – Should You Buy?

ATRenew Inc. (NYSE:RERE)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $3.18, but opened at $3.35. ATRenew shares last traded at $3.48, with a volume of 1,123,764 shares.

ATRenew Trading Up 5.8 %

The firm’s fifty day simple moving average is $2.84 and its 200 day simple moving average is $2.73. The company has a market cap of $820.63 million, a price-to-earnings ratio of -67.29, a PEG ratio of 0.41 and a beta of 0.08.

ATRenew (NYSE:RERE) last posted its earnings results on Tuesday, March 11th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.02). ATRenew had a negative net margin of 0.53% and a positive return on equity of 6.87%. As a group, sell-side analysts expect that ATRenew Inc. will post 0.09 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of ATRenew by 16.2% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 56,401 shares of the company’s stock valued at $162,000 after acquiring an additional 7,883 shares during the period. NewEdge Advisors LLC purchased a new stake in shares of ATRenew in the fourth quarter valued at about $29,000. Walleye Capital LLC acquired a new stake in shares of ATRenew during the third quarter worth about $32,000. Cubist Systematic Strategies LLC grew its holdings in shares of ATRenew by 40.3% during the fourth quarter. Cubist Systematic Strategies LLC now owns 57,025 shares of the company’s stock worth $164,000 after buying an additional 16,385 shares during the last quarter. Finally, QRG Capital Management Inc. acquired a new position in ATRenew in the 4th quarter valued at about $48,000. 19.29% of the stock is owned by hedge funds and other institutional investors.

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.