ATRenew (NYSE:RERE) Shares Gap Up – Time to Buy?

ATRenew Inc. (NYSE:RERE)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $2.98, but opened at $3.18. ATRenew shares last traded at $3.03, with a volume of 210,516 shares trading hands.

ATRenew Trading Up 2.9 %

The firm has a market capitalization of $747.46 million, a P/E ratio of -61.29, a price-to-earnings-growth ratio of 0.42 and a beta of 0.10. The business’s 50 day simple moving average is $2.84 and its two-hundred day simple moving average is $2.68.

Institutional Trading of ATRenew

Institutional investors and hedge funds have recently bought and sold shares of the company. Harvest Fund Management Co. Ltd increased its stake in ATRenew by 162.3% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,049,214 shares of the company’s stock valued at $2,906,000 after purchasing an additional 649,214 shares in the last quarter. Harber Asset Management LLC boosted its holdings in shares of ATRenew by 14.6% during the 3rd quarter. Harber Asset Management LLC now owns 1,094,617 shares of the company’s stock valued at $3,043,000 after acquiring an additional 139,842 shares during the last quarter. Centiva Capital LP boosted its holdings in shares of ATRenew by 342.2% during the 3rd quarter. Centiva Capital LP now owns 75,483 shares of the company’s stock valued at $210,000 after acquiring an additional 58,413 shares during the last quarter. WT Asset Management Ltd purchased a new stake in shares of ATRenew during the 3rd quarter valued at about $159,000. Finally, PFG Investments LLC purchased a new position in ATRenew during the third quarter valued at approximately $95,000. 19.29% of the stock is currently owned by 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.