ATRenew (NYSE:RERE) Shares Up 9.1%

ATRenew Inc. (NYSE:REREGet Rating)’s share price shot up 9.1% during mid-day trading on Thursday . The company traded as high as $2.87 and last traded at $2.87. 2,010 shares changed hands during trading, a decline of 100% from the average session volume of 434,238 shares. The stock had previously closed at $2.63.

ATRenew Price Performance

The stock’s fifty day moving average price is $2.85 and its two-hundred day moving average price is $3.52.

ATRenew (NYSE:REREGet Rating) last announced its quarterly earnings data on Tuesday, May 24th. The company reported ($0.06) earnings per share for the quarter. ATRenew had a negative net margin of 10.41% and a negative return on equity of 10.51%. The firm had revenue of $348.07 million during the quarter.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. grew its position in ATRenew by 37.1% during the 1st quarter. BlackRock Inc. now owns 685,409 shares of the company’s stock worth $2,426,000 after purchasing an additional 185,409 shares during the last quarter. Hsbc Holdings PLC grew its position in ATRenew by 54.7% during the 1st quarter. Hsbc Holdings PLC now owns 508,624 shares of the company’s stock worth $1,783,000 after purchasing an additional 179,929 shares during the last quarter. Toroso Investments LLC purchased a new position in ATRenew during the 1st quarter worth $96,000. Finally, Prescott Group Capital Management L.L.C. grew its position in ATRenew by 111.5% during the 1st quarter. Prescott Group Capital Management L.L.C. now owns 114,000 shares of the company’s stock worth $404,000 after purchasing an additional 60,100 shares during the last quarter. 18.02% of the stock is owned by hedge funds and other institutional investors.

About ATRenew

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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, household products, and bags through its online platforms and offline stores, as well as provides services to third-party merchants to sell the products through its platforms.

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