RLX Technology Inc. (NYSE:RLX – Get Free Report)’s share price was down 0.5% on Wednesday . The company traded as low as $1.78 and last traded at $1.81. Approximately 1,679,141 shares changed hands during mid-day trading, a decline of 64% from the average daily volume of 4,672,641 shares. The stock had previously closed at $1.82.
Analysts Set New Price Targets
A number of brokerages have commented on RLX. Citigroup upped their target price on shares of RLX Technology from $2.40 to $2.76 and gave the stock a “buy” rating in a research note on Monday, March 18th. TheStreet raised shares of RLX Technology from a “d” rating to a “c-” rating in a research report on Monday, March 18th.
Check Out Our Latest Stock Report on RLX
RLX Technology Price Performance
The firm has a market capitalization of $2.84 billion, a PE ratio of 36.21 and a beta of 0.91. The stock’s 50-day moving average price is $1.90 and its 200 day moving average price is $1.90.
RLX Technology (NYSE:RLX – Get Free Report) last issued its earnings results on Friday, May 17th. The company reported ($0.01) EPS for the quarter. The company had revenue of $76.40 million for the quarter. RLX Technology had a return on equity of 2.91% and a net margin of 24.39%.
Hedge Funds Weigh In On RLX Technology
Several institutional investors have recently bought and sold shares of the business. Lindbrook Capital LLC increased its holdings in RLX Technology by 77.1% during the first quarter. Lindbrook Capital LLC now owns 17,586 shares of the company’s stock valued at $34,000 after buying an additional 7,657 shares during the period. Quadrant Capital Group LLC increased its holdings in RLX Technology by 18.0% during the fourth quarter. Quadrant Capital Group LLC now owns 92,575 shares of the company’s stock valued at $185,000 after buying an additional 14,124 shares during the period. Panagora Asset Management Inc. purchased a new position in RLX Technology during the fourth quarter valued at approximately $61,000. Yong Rong HK Asset Management Ltd grew its holdings in RLX Technology by 5.3% in the fourth quarter. Yong Rong HK Asset Management Ltd now owns 2,000,000 shares of the company’s stock worth $4,000,000 after purchasing an additional 100,000 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in RLX Technology by 151.4% in the fourth quarter. SG Americas Securities LLC now owns 168,132 shares of the company’s stock worth $336,000 after purchasing an additional 101,263 shares during the last quarter. 22.68% of the stock is owned by hedge funds and other institutional investors.
About RLX Technology
RLX Technology Inc, together with its subsidiaries, engages in the manufacture and sale of e-vapor products in the People’s Republic of China and internationally. It serves partner distributors and retail outlets. The company was founded in 2018 and is headquartered in Beijing, China.
Further Reading
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