Evergreen Quality Fund GP Ltd. Buys New Stake in ATRenew Inc. Sponsored ADR $RERE

Evergreen Quality Fund GP Ltd. bought a new stake in ATRenew Inc. Sponsored ADR (NYSE:RERE) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 269,600 shares of the company’s stock, valued at approximately $1,429,000.

Several other large investors have also recently added to or reduced their stakes in RERE. Wells Fargo & Company MN acquired a new stake in ATRenew in the 4th quarter valued at approximately $30,000. Caitong International Asset Management Co. Ltd increased its position in ATRenew by 10,014.1% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 6,473 shares of the company’s stock valued at $34,000 after acquiring an additional 6,409 shares during the period. Brevan Howard Capital Management LP acquired a new stake in ATRenew in the 3rd quarter valued at approximately $49,000. Van ECK Associates Corp acquired a new stake in ATRenew in the 3rd quarter valued at approximately $83,000. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in ATRenew in the 3rd quarter valued at approximately $91,000. 19.29% of the stock is currently owned by institutional investors and hedge funds.

ATRenew Price Performance

Shares of RERE opened at $3.97 on Thursday. The firm’s 50 day moving average is $4.54 and its 200-day moving average is $5.15. The stock has a market capitalization of $869.92 million, a P/E ratio of 15.86 and a beta of 0.26. ATRenew Inc. Sponsored ADR has a 12-month low of $2.76 and a 12-month high of $6.47.

ATRenew (NYSE:RERE) last issued its earnings results on Friday, May 15th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. The firm had revenue of $893.46 million during the quarter, compared to analysts’ expectations of $856.02 million. ATRenew had a net margin of 1.90% and a return on equity of 11.48%. As a group, equities research analysts forecast that ATRenew Inc. Sponsored ADR will post 0.4 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on RERE shares. Weiss Ratings downgraded ATRenew from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 1st. Wall Street Zen raised 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, According to MarketBeat.com, the company presently has an average rating of “Hold”.

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