Short Interest in ATRenew Inc. Sponsored ADR (NYSE:RERE) Expands By 44.9%

ATRenew Inc. Sponsored ADR (NYSE:RERE) was the target of a large growth in short interest in March. As of March 13th, there was short interest totaling 3,366,308 shares, a growth of 44.9% from the February 26th total of 2,323,327 shares. Currently, 1.4% of the company’s stock are sold short. Based on an average trading volume of 2,203,276 shares, the days-to-cover ratio is currently 1.5 days.

Hedge Funds Weigh In On ATRenew

A number of hedge funds have recently bought and sold shares of RERE. Cubist Systematic Strategies LLC raised its stake in shares of ATRenew by 15.9% during the first quarter. Cubist Systematic Strategies LLC now owns 66,119 shares of the company’s stock valued at $194,000 after purchasing an additional 9,094 shares in the last quarter. Caxton Associates LLP purchased a new position in ATRenew during the 1st quarter worth approximately $114,000. JPMorgan Chase & Co. lifted its holdings in shares of ATRenew by 160.9% in the second quarter. JPMorgan Chase & Co. now owns 531,349 shares of the company’s stock valued at $1,759,000 after purchasing an additional 327,715 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of ATRenew in the second quarter worth $483,000. Finally, Marshall Wace LLP grew its holdings in shares of ATRenew by 14.2% during the second quarter. Marshall Wace LLP now owns 561,536 shares of the company’s stock valued at $1,859,000 after buying an additional 69,801 shares in the last quarter. 19.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RERE has been the topic of several research reports. Weiss Ratings reissued a “hold (c-)” rating on shares of ATRenew in a research report on Monday, December 29th. Wall Street Zen upgraded shares of ATRenew from a “buy” rating to a “strong-buy” rating in a research note on Sunday, March 22nd. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold”.

ATRenew Stock Performance

Shares of NYSE:RERE traded down $0.14 during trading on Friday, hitting $4.80. The company’s stock had a trading volume of 1,027,162 shares, compared to its average volume of 1,750,545. The company has a market capitalization of $1.05 billion, a PE ratio of 23.98 and a beta of 0.19. ATRenew has a fifty-two week low of $2.00 and a fifty-two week high of $6.47. The stock’s 50-day moving average price is $5.62 and its two-hundred day moving average price is $5.00.

ATRenew (NYSE:RERE) last issued its quarterly earnings data on Saturday, February 14th. The company reported $0.12 earnings per share for the quarter. ATRenew had a return on equity of 9.87% and a net margin of 1.60%.The firm had revenue of $893.92 million during the quarter. On average, equities analysts predict that ATRenew will post 0.09 earnings per share for the current fiscal year.

ATRenew Announces Dividend

The business also recently announced a dividend, which will be paid on Friday, April 24th. Stockholders of record on Monday, April 6th will be paid a $0.10 dividend. The ex-dividend date is Monday, April 6th.

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. The company was formerly known as AiHuiShou International Co Ltd.