ATRenew Inc. (NYSE:RERE) Sees Significant Growth in Short Interest

ATRenew Inc. (NYSE:RERE) was the target of a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 319,500 shares, an increase of 17.8% from the February 13th total of 271,300 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average trading volume of 954,800 shares, the days-to-cover ratio is currently 0.3 days.

Hedge Funds Weigh In On ATRenew

Several hedge funds have recently added to or reduced their stakes in RERE. NewEdge Advisors LLC purchased a new stake in ATRenew in the fourth quarter valued at approximately $29,000. Walleye Capital LLC purchased a new position in ATRenew in the 3rd quarter valued at about $32,000. QRG Capital Management Inc. bought a new position in shares of ATRenew during the fourth quarter worth about $48,000. Squarepoint Ops LLC bought a new position in shares of ATRenew during the fourth quarter worth about $50,000. Finally, Russell Investments Group Ltd. acquired a new stake in ATRenew during the fourth quarter worth about $82,000. 19.29% of the stock is currently owned by hedge funds and other institutional investors.

ATRenew Stock Performance

ATRenew stock traded down $0.02 during trading hours on Wednesday, reaching $3.36. 281,010 shares of the stock were exchanged, compared to its average volume of 1,108,816. The stock has a market cap of $818.19 million, a P/E ratio of -67.09, a P/E/G ratio of 0.41 and a beta of 0.08. ATRenew has a 52-week low of $1.50 and a 52-week high of $3.70. The firm’s 50 day moving average is $2.91 and its 200 day moving average is $2.77.

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.