ATRenew Inc. (NYSE:RERE) Short Interest Update

ATRenew Inc. (NYSE:RERE) saw a significant growth in short interest in the month of May. As of May 31st, there was short interest totalling 2,150,000 shares, a growth of 66.7% from the May 15th total of 1,290,000 shares. Approximately 1.0% of the company’s shares are short sold. Based on an average daily volume of 970,100 shares, the days-to-cover ratio is currently 2.2 days.

ATRenew Price Performance

Shares of RERE stock traded up $0.06 during trading hours on Tuesday, hitting $2.88. The company had a trading volume of 306,885 shares, compared to its average volume of 1,027,602. The stock has a market capitalization of $701.13 million, a PE ratio of -57.49, a price-to-earnings-growth ratio of 0.41 and a beta of 0.09. The company’s fifty day moving average is $2.49 and its 200 day moving average is $2.78. ATRenew has a fifty-two week low of $2.00 and a fifty-two week high of $3.70.

ATRenew (NYSE:RERE) last released its quarterly earnings results on Tuesday, May 20th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.01). The firm had revenue of $641.26 million for the quarter, compared to analysts’ expectations of $4.62 billion. ATRenew had a positive return on equity of 6.87% and a negative net margin of 0.53%. Equities analysts forecast that ATRenew will post 0.09 earnings per share for the current year.

Institutional Trading of ATRenew

Several hedge funds have recently made changes to their positions in the business. NewEdge Advisors LLC purchased a new stake in ATRenew during the 4th quarter worth approximately $29,000. JTC Employer Solutions Trustee Ltd acquired a new stake in shares of ATRenew in the first quarter valued at $32,000. Harbour Capital Advisors LLC purchased a new position in ATRenew in the first quarter valued at $33,000. PFG Investments LLC acquired a new position in ATRenew during the 1st quarter worth $40,000. Finally, Virtu Financial LLC purchased a new stake in ATRenew during the 1st quarter worth about $48,000. Institutional investors and hedge funds own 19.29% of the company’s stock.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of ATRenew from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 24th.

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.