ATRenew (NYSE:RERE) Sets New 12-Month High – Here’s What Happened
by Scott Moore · The Cerbat GemShares of ATRenew Inc. Sponsored ADR (NYSE:RERE – Get Free Report) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $5.70 and last traded at $5.6950, with a volume of 1674158 shares traded. The stock had previously closed at $5.42.
Analyst Upgrades and Downgrades
Several equities analysts have weighed in on RERE shares. Wall Street Zen upgraded ATRenew from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 22nd. Weiss Ratings restated a “hold (c-)” rating on shares of ATRenew in a research report on Monday, December 29th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold”.
Read Our Latest Research Report on ATRenew
ATRenew Stock Performance
The company has a market cap of $1.37 billion, a PE ratio of 35.91 and a beta of 0.19. The company has a fifty day moving average of $4.77 and a two-hundred day moving average of $4.26.
Institutional Investors Weigh In On ATRenew
Several institutional investors have recently made changes to their positions in RERE. Acadian Asset Management LLC grew its holdings in ATRenew by 41.9% during the 2nd quarter. Acadian Asset Management LLC now owns 3,820,082 shares of the company’s stock valued at $12,622,000 after purchasing an additional 1,127,933 shares during the last quarter. Prescott Group Capital Management L.L.C. boosted its position in shares of ATRenew by 4.0% during the second quarter. Prescott Group Capital Management L.L.C. now owns 3,155,436 shares of the company’s stock valued at $10,444,000 after buying an additional 120,000 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in shares of ATRenew by 98.8% during the third quarter. Arrowstreet Capital Limited Partnership now owns 2,950,152 shares of the company’s stock valued at $13,571,000 after buying an additional 1,466,383 shares during the last quarter. Citigroup Inc. raised its holdings in shares of ATRenew by 109,141.5% in the third quarter. Citigroup Inc. now owns 1,126,280 shares of the company’s stock worth $5,181,000 after buying an additional 1,125,249 shares during the period. Finally, Bank of America Corp DE lifted its stake in shares of ATRenew by 69.6% during the 3rd quarter. Bank of America Corp DE now owns 749,676 shares of the company’s stock worth $3,449,000 after acquiring an additional 307,679 shares during the last quarter. Institutional investors own 19.29% of the company’s stock.
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.