Short Interest in ATRenew Inc. (NYSE:RERE) Rises By 59.1%

ATRenew Inc. (NYSE:RERE – Get Rating) was the target of a significant growth in short interest in the month of April. As of April 30th, there was short interest totalling 621,000 shares, a growth of 59.1% from the April 15th total of 390,400 shares. Based on an average daily volume of 572,600 shares, the short-interest ratio is currently 1.1 days.

Separately, Zacks Investment Research upgraded ATRenew from a “sell” rating to a “hold” rating in a report on Tuesday, May 3rd.

Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. grew its stake in shares of ATRenew by 37.1% in the 1st quarter. BlackRock Inc. now owns 685,409 shares of the company’s stock valued at $2,426,000 after buying an additional 185,409 shares during the period. Citadel Advisors LLC bought a new position in ATRenew in the 3rd quarter valued at about $1,967,000. Prescott Group Capital Management L.L.C. lifted its position in ATRenew by 111.5% in the 1st quarter. Prescott Group Capital Management L.L.C. now owns 114,000 shares of the company’s stock valued at $404,000 after acquiring an additional 60,100 shares in the last quarter. Bank of America Corp DE bought a new position in ATRenew in the 2nd quarter valued at about $1,048,000. Finally, Cubist Systematic Strategies LLC bought a new position in ATRenew in the 3rd quarter valued at about $322,000. Institutional investors own 18.02% of the company’s stock.

ATRenew stock traded up $0.17 during trading hours on Friday, reaching $2.53. 520,802 shares of the company’s stock were exchanged, compared to its average volume of 464,961. The firm’s 50 day simple moving average is $3.14 and its 200 day simple moving average is $5.20. ATRenew has a twelve month low of $2.25 and a twelve month high of $18.49.

ATRenew (NYSE:RERE – Get Rating) last issued its earnings results on Wednesday, March 9th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.44) by $0.41. Equities research analysts forecast that ATRenew will post -1.09 EPS for the current fiscal year.

About ATRenew (Get Rating)

AiHuiShou International Co Ltd., through its subsidiaries, operates pre-owned consumer electronics transactions and services platform under the ATRenew brand name in the People's Republic of China. It primarily sells mobile phones, laptops, tablets, digital cameras, luxury goods, household products, and books 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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