Two Sigma Investments LP Raises Stock Holdings in ATRenew Inc. (NYSE:RERE)

Two Sigma Investments LP grew its stake in ATRenew Inc. (NYSE:RERE) by 38.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 108,516 shares of the company’s stock after buying an additional 30,000 shares during the quarter. Two Sigma Investments LP’s holdings in ATRenew were worth $313,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. NewEdge Advisors LLC bought a new position in shares of ATRenew in the fourth quarter worth about $29,000. QRG Capital Management Inc. bought a new position in shares of ATRenew in the fourth quarter worth about $48,000. Russell Investments Group Ltd. bought a new position in shares of ATRenew in the fourth quarter worth about $82,000. Susquehanna Fundamental Investments LLC bought a new position in shares of ATRenew in the fourth quarter worth about $101,000. Finally, SG Americas Securities LLC bought a new position in shares of ATRenew in the fourth quarter worth about $137,000. Institutional investors own 19.29% of the company’s stock.

Wall Street Analysts Forecast Growth

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

ATRenew Trading Up 2.1%

Shares of ATRenew stock opened at $2.75 on Wednesday. The stock has a 50 day moving average of $2.46 and a 200 day moving average of $2.79. ATRenew Inc. has a 12 month low of $2.00 and a 12 month high of $3.70. The firm has a market cap of $669.92 million, a PE ratio of -54.93, a PEG ratio of 0.41 and a beta of 0.09.

ATRenew (NYSE:RERE) last announced its quarterly 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 firm had revenue of $641.26 million for the quarter, compared to the consensus estimate of $4.62 billion. As a group, equities research analysts forecast that ATRenew Inc. will post 0.09 earnings per share for the current fiscal year.

About ATRenew

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.