ATRenew (NYSE:RERE) Hits New 52-Week High – Time to Buy?

ATRenew Inc. Sponsored ADR (NYSE:RERE) hit a new 52-week high on Monday . The stock traded as high as $6.15 and last traded at $6.0950, with a volume of 585767 shares changing hands. The stock had previously closed at $5.89.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Wall Street Zen lowered ATRenew from a “strong-buy” rating to a “buy” rating in a report on Saturday. Weiss Ratings reissued a “hold (c-)” rating on shares of ATRenew in a research report on Monday, December 29th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold”.

ATRenew Trading Up 7.9%

The company has a market cap of $1.55 billion, a P/E ratio of 39.72 and a beta of 0.19. The company’s fifty day moving average is $4.85 and its 200 day moving average is $4.31.

Institutional Investors Weigh In On ATRenew

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC grew 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 worth $12,622,000 after acquiring an additional 1,127,933 shares during the period. Prescott Group Capital Management L.L.C. grew its stake in ATRenew by 4.0% in the second quarter. Prescott Group Capital Management L.L.C. now owns 3,155,436 shares of the company’s stock worth $10,444,000 after purchasing an additional 120,000 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in ATRenew by 98.8% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,950,152 shares of the company’s stock worth $13,571,000 after purchasing an additional 1,466,383 shares in the last quarter. Citigroup Inc. lifted its position in ATRenew by 109,141.5% during the third quarter. Citigroup Inc. now owns 1,126,280 shares of the company’s stock valued at $5,181,000 after buying an additional 1,125,249 shares during the period. Finally, Bank of America Corp DE lifted its position in ATRenew by 69.6% during the third quarter. Bank of America Corp DE now owns 749,676 shares of the company’s stock valued at $3,449,000 after buying an additional 307,679 shares during the period. 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. The company was formerly known as AiHuiShou International Co Ltd.