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

ATRenew Inc. (NYSE:RERE)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $3.17, but opened at $3.00. ATRenew shares last traded at $3.17, with a volume of 194,260 shares traded.

ATRenew Trading Down 2.1 %

The stock’s 50 day moving average price is $2.94 and its two-hundred day moving average price is $2.78. The firm has a market capitalization of $757.22 million, a price-to-earnings ratio of -62.09, a PEG ratio of 0.41 and a beta of 0.08.

Institutional Investors Weigh In On ATRenew

Several institutional investors and hedge funds have recently made changes to their positions in RERE. Harvest Fund Management Co. Ltd boosted its position in shares of ATRenew by 162.3% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,049,214 shares of the company’s stock worth $2,906,000 after buying an additional 649,214 shares in the last quarter. Walleye Capital LLC purchased a new stake in shares of ATRenew in the 3rd quarter worth about $32,000. Centiva Capital LP boosted its position in shares of ATRenew by 342.2% in the 3rd quarter. Centiva Capital LP now owns 75,483 shares of the company’s stock worth $210,000 after buying an additional 58,413 shares in the last quarter. Harber Asset Management LLC boosted its position in shares of ATRenew by 14.6% in the 3rd quarter. Harber Asset Management LLC now owns 1,094,617 shares of the company’s stock worth $3,043,000 after buying an additional 139,842 shares in the last quarter. Finally, Quadrature Capital Ltd boosted its position in shares of ATRenew by 67.8% in the 3rd quarter. Quadrature Capital Ltd now owns 70,729 shares of the company’s stock worth $197,000 after buying an additional 28,569 shares in the last quarter. 19.29% of the stock is currently 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.