ATRenew (NYSE:RERE) Shares Gap Down – Time to Sell?

ATRenew Inc. (NYSE:RERE) shares gapped down prior to trading on Friday . The stock had previously closed at $3.17, but opened at $3.00. ATRenew shares last traded at $3.17, with a volume of 194,260 shares traded.

ATRenew Price Performance

The firm’s 50-day moving average is $2.95 and its two-hundred day moving average is $2.79. The company has a market cap of $754.78 million, a P/E ratio of -61.89, a PEG ratio of 0.41 and a beta of 0.08.

Institutional Investors Weigh In On ATRenew

Several large investors have recently bought and sold shares of RERE. Harvest Fund Management Co. Ltd boosted its stake 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 worth $2,906,000 after buying an additional 649,214 shares during the period. Walleye Capital LLC purchased a new position in ATRenew during the third quarter worth $32,000. Centiva Capital LP boosted its stake in ATRenew by 342.2% during the third quarter. Centiva Capital LP now owns 75,483 shares of the company’s stock worth $210,000 after buying an additional 58,413 shares during the period. Harber Asset Management LLC boosted its stake in 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 buying an additional 139,842 shares during the period. Finally, Quadrature Capital Ltd boosted its stake in ATRenew by 67.8% during the third quarter. Quadrature Capital Ltd now owns 70,729 shares of the company’s stock worth $197,000 after buying an additional 28,569 shares during the period. Institutional investors 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.