Squarepoint Ops LLC Makes New $50,000 Investment in ATRenew Inc. (NYSE:RERE)

Squarepoint Ops LLC acquired a new position in shares of ATRenew Inc. (NYSE:RERE) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 17,204 shares of the company’s stock, valued at approximately $50,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. QRG Capital Management Inc. purchased a new stake in ATRenew in the fourth quarter valued at $48,000. Bank of America Corp DE raised its position in ATRenew by 46.3% in the fourth quarter. Bank of America Corp DE now owns 578,457 shares of the company’s stock valued at $1,666,000 after purchasing an additional 183,201 shares during the period. Man Group plc purchased a new stake in ATRenew in the fourth quarter valued at $325,000. Russell Investments Group Ltd. purchased a new stake in ATRenew in the fourth quarter valued at $82,000. Finally, Caxton Associates LP purchased a new stake in ATRenew in the fourth quarter valued at $473,000. Institutional investors and hedge funds own 19.29% of the company’s stock.

ATRenew Stock Up 2.1%

NYSE:RERE opened at $2.75 on Wednesday. ATRenew Inc. has a 52 week low of $2.00 and a 52 week high of $3.70. The company has a market capitalization of $669.92 million, a P/E ratio of -54.93, a P/E/G ratio of 0.41 and a beta of 0.09. The stock’s fifty day moving average is $2.46 and its two-hundred day moving average is $2.79.

ATRenew (NYSE:RERE) last posted its earnings results on Tuesday, May 20th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). ATRenew had a negative net margin of 0.53% and a positive return on equity of 6.87%. The business had revenue of $641.26 million during the quarter, compared to analysts’ expectations of $4.62 billion. Sell-side analysts anticipate that ATRenew Inc. will post 0.09 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded ATRenew from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 24th.

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.