RLX Technology (NYSE:RLX) Trading 3.9% Higher – What’s Next?

RLX Technology Inc. (NYSE:RLX)’s stock price traded up 3.9% on Thursday . The stock traded as high as $1.74 and last traded at $1.75. 172,967 shares traded hands during trading, a decline of 97% from the average session volume of 6,307,411 shares. The stock had previously closed at $1.68.

Wall Street Analyst Weigh In

Separately, Citigroup lowered shares of RLX Technology from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $2.80 to $2.50 in a research report on Monday, March 17th.

RLX Technology Stock Performance

The business has a fifty day moving average of $2.10 and a two-hundred day moving average of $1.99. The firm has a market capitalization of $2.68 billion, a price-to-earnings ratio of 42.64 and a beta of 1.03.

RLX Technology (NYSE:RLX) last issued its quarterly earnings data on Friday, March 14th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.19). The company had revenue of $111.46 million during the quarter, compared to the consensus estimate of $764.69 million. RLX Technology had a net margin of 15.70% and a return on equity of 2.48%.

Institutional Trading of RLX Technology

Hedge funds have recently added to or reduced their stakes in the company. BRIGHT VALLEY CAPITAL Ltd bought a new stake in shares of RLX Technology in the fourth quarter valued at about $19,297,000. Barclays PLC grew its position in shares of RLX Technology by 5,047.4% during the 4th quarter. Barclays PLC now owns 5,686,433 shares of the company’s stock worth $12,282,000 after purchasing an additional 5,575,962 shares in the last quarter. Oasis Management Co Ltd. increased its holdings in shares of RLX Technology by 9.5% during the fourth quarter. Oasis Management Co Ltd. now owns 5,592,665 shares of the company’s stock worth $12,080,000 after purchasing an additional 484,542 shares during the period. Nomura Holdings Inc. raised its position in shares of RLX Technology by 86.1% in the fourth quarter. Nomura Holdings Inc. now owns 3,600,987 shares of the company’s stock valued at $7,778,000 after buying an additional 1,665,518 shares in the last quarter. Finally, Millennium Management LLC grew its position in RLX Technology by 40.1% during the fourth quarter. Millennium Management LLC now owns 3,459,960 shares of the company’s stock worth $7,474,000 after buying an additional 991,100 shares in the last quarter. 22.68% of the stock is owned by institutional investors and hedge funds.

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.