ATRenew (NYSE:RERE) Hits New 12-Month High – Here’s Why

ATRenew Inc. (NYSE:RERE) reached a new 52-week high on Wednesday . The company traded as high as $3.28 and last traded at $3.24, with a volume of 765192 shares. The stock had previously closed at $3.12.

ATRenew Trading Up 7.1 %

The stock has a 50-day simple moving average of $2.56 and a 200-day simple moving average of $2.49. The company has a market capitalization of $814.53 million, a price-to-earnings ratio of -66.79, a price-to-earnings-growth ratio of 0.56 and a beta of -0.13.

Hedge Funds Weigh In On ATRenew

Several hedge funds and other institutional investors have recently modified their holdings of the company. Quadrature Capital Ltd boosted its holdings in shares of ATRenew by 67.8% in the third quarter. Quadrature Capital Ltd now owns 70,729 shares of the company’s stock valued at $197,000 after acquiring an additional 28,569 shares in the last quarter. Harber Asset Management LLC raised its holdings in shares of ATRenew by 14.6% during the third quarter. Harber Asset Management LLC now owns 1,094,617 shares of the company’s stock worth $3,043,000 after acquiring an additional 139,842 shares in the last quarter. Centiva Capital LP grew its stake in shares of ATRenew by 342.2% in the 3rd quarter. Centiva Capital LP now owns 75,483 shares of the company’s stock valued at $210,000 after buying an additional 58,413 shares in the last quarter. Walleye Capital LLC acquired a new position in shares of ATRenew during the 3rd quarter worth $32,000. Finally, Harvest Fund Management Co. Ltd raised its holdings in ATRenew by 162.3% during the third quarter. Harvest Fund Management Co. Ltd now owns 1,049,214 shares of the company’s stock valued at $2,906,000 after buying an additional 649,214 shares in the last quarter. Institutional investors and hedge funds own 19.29% of the company’s stock.

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.