ATRenew (NYSE:RERE) Trading Down 4.9% – Should You Sell?

Shares of ATRenew Inc. (NYSE:RERE) were down 4.9% on Monday . The company traded as low as $2.86 and last traded at $2.89. Approximately 743,202 shares traded hands during mid-day trading, a decline of 30% from the average daily volume of 1,069,059 shares. The stock had previously closed at $3.04.

ATRenew Stock Performance

The business has a fifty day simple moving average of $2.82 and a 200-day simple moving average of $2.59. The stock has a market capitalization of $702.35 million, a P/E ratio of -57.59, a PEG ratio of 0.60 and a beta of 0.07.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Harvest Fund Management Co. Ltd grew its holdings in shares of ATRenew by 162.3% in the third quarter. Harvest Fund Management Co. Ltd now owns 1,049,214 shares of the company’s stock worth $2,906,000 after purchasing an additional 649,214 shares during the last quarter. Acadian Asset Management LLC bought a new stake in shares of ATRenew in the 2nd quarter worth approximately $3,328,000. BRIGHT VALLEY CAPITAL Ltd purchased a new position in shares of ATRenew during the second quarter valued at approximately $1,396,000. Harber Asset Management LLC raised its holdings in shares of ATRenew by 14.6% during the third quarter. Harber Asset Management LLC now owns 1,094,617 shares of the company’s stock valued at $3,043,000 after acquiring an additional 139,842 shares in the last quarter. Finally, Cubist Systematic Strategies LLC boosted its holdings in ATRenew by 30.3% in the second quarter. Cubist Systematic Strategies LLC now owns 47,351 shares of the company’s stock valued at $112,000 after acquiring an additional 11,011 shares in the last quarter. 19.29% of the stock is owned by hedge funds and other institutional investors.

ATRenew Company Profile

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.