ATRenew (NYSE:RERE) Shares Gap Up to $2.22

ATRenew Inc. (NYSE:RERE)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $2.22, but opened at $2.32. ATRenew shares last traded at $2.25, with a volume of 165,149 shares traded.

ATRenew Stock Performance

The firm’s 50-day moving average is $2.31 and its 200 day moving average is $1.76. The firm has a market capitalization of $541.39 million, a PE ratio of -18.50, a price-to-earnings-growth ratio of 0.46 and a beta of -0.19.

ATRenew (NYSE:RERE) last released its quarterly earnings results on Monday, May 20th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.04). ATRenew had a positive return on equity of 2.74% and a negative net margin of 1.44%. The firm had revenue of $505.68 million for the quarter, compared to analyst estimates of $493.00 million. As a group, equities analysts anticipate that ATRenew Inc. will post 0.18 earnings per share for the current year.

Institutional Investors Weigh In On ATRenew

Hedge funds have recently modified their holdings of the company. Lansdowne Partners UK LLP acquired a new stake in shares of ATRenew in the third quarter worth approximately $1,174,000. Virtu Financial LLC acquired a new stake in shares of ATRenew in the first quarter worth approximately $134,000. Finally, IvyRock Asset Management HK Ltd acquired a new stake in shares of ATRenew in the fourth quarter worth approximately $67,000. 19.29% of the stock is owned by institutional investors and hedge funds.

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.