Point72 Asset Management L.P. Has $3.47 Million Stock Holdings in RLX Technology Inc. (NYSE:RLX)

Point72 Asset Management L.P. lifted its holdings in RLX Technology Inc. (NYSE:RLX) by 22.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,607,900 shares of the company’s stock after buying an additional 294,600 shares during the quarter. Point72 Asset Management L.P. owned about 0.10% of RLX Technology worth $3,473,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in RLX. BRIGHT VALLEY CAPITAL Ltd bought a new position in shares of RLX Technology in the fourth quarter valued at about $19,297,000. Barclays PLC raised its holdings in shares of RLX Technology by 5,047.4% in the fourth quarter. Barclays PLC now owns 5,686,433 shares of the company’s stock valued at $12,282,000 after buying an additional 5,575,962 shares during the last quarter. Man Group plc raised its holdings in shares of RLX Technology by 118.8% in the fourth quarter. Man Group plc now owns 3,165,638 shares of the company’s stock valued at $6,838,000 after buying an additional 1,718,816 shares during the last quarter. Nomura Holdings Inc. raised its holdings 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 during the last quarter. Finally, D. E. Shaw & Co. Inc. raised its holdings in shares of RLX Technology by 124.6% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 2,102,446 shares of the company’s stock valued at $4,541,000 after buying an additional 1,166,409 shares during the last quarter. 22.68% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Citigroup cut their price target on RLX Technology from $2.50 to $2.25 and set a “neutral” rating for the company in a report on Monday.

RLX Technology Stock Up 1.0%

RLX Technology stock opened at $1.98 on Wednesday. The stock has a 50-day simple moving average of $1.86 and a 200 day simple moving average of $2.01. RLX Technology Inc. has a 12-month low of $1.50 and a 12-month high of $2.69. The stock has a market capitalization of $3.11 billion, a price-to-earnings ratio of 49.51 and a beta of 1.03.

RLX Technology (NYSE:RLX) last announced its quarterly earnings data on Friday, May 16th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.15). The firm had revenue of $111.35 million for the quarter, compared to the consensus estimate of $763.38 million. RLX Technology had a return on equity of 2.48% and a net margin of 15.70%.

RLX Technology Company Profile

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.