RLX Technology (NYSE:RLX) Trading 5.7% Higher – Here’s What Happened

RLX Technology Inc. (NYSE:RLX) shot up 5.7% during mid-day trading on Friday . The company traded as high as $2.49 and last traded at $2.49. 5,321,253 shares changed hands during trading, an increase of 2% from the average session volume of 5,201,281 shares. The stock had previously closed at $2.35.

RLX Technology Price Performance

The business’s fifty day moving average is $2.24 and its 200-day moving average is $1.92. The firm has a market cap of $3.92 billion, a PE ratio of 62.39 and a beta of 0.97.

Institutional Investors Weigh In On RLX Technology

Several large investors have recently modified their holdings of the stock. Centiva Capital LP purchased a new stake in RLX Technology in the third quarter worth $29,000. Janney Montgomery Scott LLC purchased a new stake in RLX Technology in the 4th quarter worth about $31,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in RLX Technology in the 4th quarter worth about $42,000. Boothbay Fund Management LLC purchased a new stake in RLX Technology in the 4th quarter worth about $43,000. Finally, Catalina Capital Group LLC purchased a new stake in RLX Technology in the 4th quarter worth about $63,000. Hedge funds and other institutional investors own 22.68% of the company’s stock.

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.