China Universal Asset Management Co. Ltd. Acquires New Stake in ATRenew Inc. Sponsored ADR $RERE

China Universal Asset Management Co. Ltd. bought a new position in ATRenew Inc. Sponsored ADR (NYSE:RERE) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 536,000 shares of the company’s stock, valued at approximately $2,466,000. China Universal Asset Management Co. Ltd. owned approximately 0.22% of ATRenew at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cubist Systematic Strategies LLC boosted its stake in ATRenew by 15.9% in the 1st quarter. Cubist Systematic Strategies LLC now owns 66,119 shares of the company’s stock worth $194,000 after purchasing an additional 9,094 shares in the last quarter. Caxton Associates LLP bought a new position in shares of ATRenew in the first quarter worth approximately $114,000. Acadian Asset Management LLC grew its holdings in shares of ATRenew by 41.9% during the second quarter. Acadian Asset Management LLC now owns 3,820,082 shares of the company’s stock valued at $12,622,000 after buying an additional 1,127,933 shares during the last quarter. Prescott Group Capital Management L.L.C. grew its holdings in shares of ATRenew by 4.0% during the second quarter. Prescott Group Capital Management L.L.C. now owns 3,155,436 shares of the company’s stock valued at $10,444,000 after buying an additional 120,000 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of ATRenew by 160.9% during the second quarter. JPMorgan Chase & Co. now owns 531,349 shares of the company’s stock valued at $1,759,000 after acquiring an additional 327,715 shares in the last quarter. 19.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on RERE. Wall Street Zen upgraded ATRenew from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 31st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of ATRenew in a report on Monday, December 29th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold”.

ATRenew Stock Performance

Shares of NYSE RERE opened at $5.50 on Friday. ATRenew Inc. Sponsored ADR has a 12-month low of $2.00 and a 12-month high of $6.47. The firm has a 50 day moving average of $5.67 and a 200 day moving average of $4.77.

ATRenew 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.