China Universal Asset Management Co. Ltd. Purchases Shares of 536,000 ATRenew Inc. Sponsored ADR $RERE

China Universal Asset Management Co. Ltd. bought a new stake in shares of ATRenew Inc. Sponsored ADR (NYSE:RERE) during the third quarter, HoldingsChannel.com reports. The institutional investor bought 536,000 shares of the company’s stock, valued at approximately $2,466,000.

Other hedge funds have also recently made changes to their positions in the company. Cubist Systematic Strategies LLC raised its position in shares of ATRenew by 15.9% during the first quarter. Cubist Systematic Strategies LLC now owns 66,119 shares of the company’s stock valued at $194,000 after buying an additional 9,094 shares during the last quarter. Caxton Associates LLP purchased a new stake in ATRenew in the 1st quarter worth $114,000. Acadian Asset Management LLC boosted its holdings in shares of 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. grew 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 purchasing an additional 120,000 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of ATRenew by 160.9% in the second quarter. JPMorgan Chase & Co. now owns 531,349 shares of the company’s stock worth $1,759,000 after buying an additional 327,715 shares in the last quarter. Institutional investors own 19.29% of the company’s stock.

ATRenew Stock Performance

ATRenew stock opened at $5.50 on Friday. ATRenew Inc. Sponsored ADR has a 12-month low of $2.00 and a 12-month high of $6.47. The firm has a 50-day moving average price of $5.67 and a 200-day moving average price of $4.77.

Analysts Set New Price Targets

RERE has been the subject of several research reports. Wall Street Zen upgraded shares of ATRenew from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 31st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of ATRenew in a report on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, ATRenew presently has a consensus rating of “Hold”.

ATRenew 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. The company was formerly known as AiHuiShou International Co Ltd.