ATRenew Inc. Sponsored ADR $RERE Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lowered its position in shares of ATRenew Inc. Sponsored ADR (NYSE:RERE) by 30.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,489,790 shares of the company’s stock after selling 1,108,711 shares during the period. Wellington Management Group LLP owned 1.13% of ATRenew worth $9,635,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Van ECK Associates Corp raised its stake in ATRenew by 10.3% in the fourth quarter. Van ECK Associates Corp now owns 19,794 shares of the company’s stock valued at $105,000 after buying an additional 1,855 shares in the last quarter. IvyRock Asset Management HK Ltd boosted its position in shares of ATRenew by 11.1% during the 4th quarter. IvyRock Asset Management HK Ltd now owns 20,000 shares of the company’s stock worth $106,000 after acquiring an additional 2,000 shares in the last quarter. Wells Fargo & Company MN purchased a new position in shares of ATRenew in the 4th quarter valued at about $30,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of 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 last quarter. Finally, Squarepoint Ops LLC raised its position in shares of ATRenew by 29.4% during the 4th quarter. Squarepoint Ops LLC now owns 38,701 shares of the company’s stock worth $205,000 after acquiring an additional 8,785 shares in the last quarter. Hedge funds and other institutional investors own 19.29% of the company’s stock.

ATRenew Trading Down 2.8%

RERE stock opened at $4.06 on Wednesday. The company has a market capitalization of $890.97 million, a P/E ratio of 14.00 and a beta of 0.33. ATRenew Inc. Sponsored ADR has a twelve month low of $3.50 and a twelve month high of $6.47. The business has a 50 day simple moving average of $4.15 and a 200-day simple moving average of $4.53.

ATRenew (NYSE:RERE) last announced its earnings results on Thursday, August 20th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. ATRenew had a net margin of 2.01% and a return on equity of 12.32%. The business had revenue of $972.82 million for the quarter, compared to analysts’ expectations of $930.34 million. Research analysts predict that ATRenew Inc. Sponsored ADR will post 0.37 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on RERE. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ATRenew in a report on Wednesday, July 29th. Wall Street Zen cut shares of ATRenew from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 25th. CICC Research started coverage on shares of ATRenew in a research report on Thursday, August 20th. They set an “outperform” rating for the company. Finally, UBS Group started coverage on shares of ATRenew in a report on Tuesday, July 21st. They issued a “buy” rating and a $5.50 target price for the company. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $5.50.

ATRenew 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.