ATRenew (NYSE:RERE) Stock Price Down 4% – Here’s Why

ATRenew Inc. (NYSE:RERE)’s stock price dropped 4% during mid-day trading on Thursday . The stock traded as low as $3.19 and last traded at $3.23. Approximately 391,132 shares traded hands during trading, a decline of 65% from the average daily volume of 1,108,973 shares. The stock had previously closed at $3.36.

ATRenew Stock Down 4.9 %

The company has a 50-day moving average of $2.93 and a 200 day moving average of $2.78. The firm has a market capitalization of $779.17 million, a PE ratio of -64.09, a PEG ratio of 0.41 and a beta of 0.08.

Institutional Investors Weigh In On ATRenew

A number of institutional investors and hedge funds have recently bought and sold shares of RERE. NewEdge Advisors LLC bought a new position in shares of ATRenew in the 4th quarter worth $29,000. Walleye Capital LLC purchased a new stake in ATRenew during the third quarter valued at about $32,000. QRG Capital Management Inc. bought a new stake in ATRenew during the fourth quarter worth about $48,000. Squarepoint Ops LLC purchased a new position in shares of ATRenew in the 4th quarter worth about $50,000. Finally, Russell Investments Group Ltd. bought a new position in shares of ATRenew during the 4th quarter valued at about $82,000. 19.29% of the stock is owned by hedge funds and other institutional investors.

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.