ATRenew (NYSE:RERE) Shares Down 4% – Should You Sell?

ATRenew Inc. (NYSE:RERE) dropped 4% during trading on Thursday . The stock traded as low as $3.19 and last traded at $3.23. Approximately 391,132 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 1,108,973 shares. The stock had previously closed at $3.36.

ATRenew Stock Down 2.4 %

The firm has a 50 day moving average price of $2.95 and a 200 day moving average price of $2.79. The stock has a market cap of $754.78 million, a P/E ratio of -61.89, a P/E/G ratio of 0.41 and a beta of 0.08.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. NewEdge Advisors LLC bought a new position in shares of ATRenew in the fourth quarter worth about $29,000. Walleye Capital LLC bought a new stake in ATRenew during the 3rd quarter valued at approximately $32,000. QRG Capital Management Inc. bought a new stake in ATRenew during the 4th quarter valued at approximately $48,000. Squarepoint Ops LLC bought a new stake in ATRenew during the 4th quarter valued at approximately $50,000. Finally, Russell Investments Group Ltd. bought a new stake in ATRenew during the 4th quarter valued at approximately $82,000. 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.