RLX Technology Inc. (NYSE:RLX – Get Free Report) shares fell 0.5% during midday trading on Wednesday. The company’s shares fell to a low of $1.78 and were last traded at $1.81. Approximately 1,679,141 shares traded hands during trading, down 64% from the average daily trading volume of 4,672,641 shares. The stock had previously closed at $1.82.
Analyst upgrades and downgrades
Several research firms have issued reports on RLX. Citigroup increased their price target on RLX Technology from $2.40 to $2.76 and gave the stock a “buy” rating in a research report on Monday, March 18th. TheStreet raised their rating on RLX Technology from a “d” to a “c-” in a research report on Monday, March 18th.
View the latest RLX stock report
RLX Technology shares fell 0.5%
The stock has a market capitalization of $2.84 billion, a price-to-earnings ratio of 36.21 and a beta of 0.91. The company’s 50-day simple moving average is $1.90 and its 200-day simple moving average is $1.90.
RLX Technology (NYSE:RLX – Get free report ) last released its quarterly earnings data on Friday, May 17th. The company reported earnings per share (EPS) for the quarter as ($0.01). RLX Technology had return on equity of 2.91% and net margin of 24.39%. Revenues for the quarter were $76.4 million.
Institutional Investors Invest in RLX Technology
A number of institutional investors and hedge funds have recently modified their holdings in RLX. The Vanguard Group increased its holdings in RLX Technology by 1.9% in the third quarter. Vanguard Group purchased an additional 578,728 shares in the last quarter and now owns 31,061,726 shares, valued at $46,903,000. Oasis Management Co. Ltd. increased its holdings in RLX Technology by 7.5% in the fourth quarter. Oasis Management Co. Ltd. purchased an additional 357,334 shares in the last quarter and now owns 5,137,739 shares, valued at $10,275,000. E Fund Management Co. Ltd. purchased a new position in RLX Technology shares in the fourth quarter for $705,000. Point72 Europe London LLP bought a new stake in RLX Technology in the 4th quarter valued at approximately $616,000. Finally, Jump Financial LLC bought a new stake in RLX Technology in the 4th quarter valued at approximately $522,000. Hedge funds and other institutional investors now own 22.68% of the company’s shares.
About RLX Technology
(Get your free report)
RLX Technology Inc, together with its subsidiaries, manufactures and distributes electronic cigarette products in the People’s Republic of China and internationally. It serves partner distributors and retailers. The company was founded in 2018 and is headquartered in Beijing, China.
References
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