RLX Technology (NYSE:RLX) Shares Down 3.5% – What’s Next?

RLX Technology Inc. (NYSE:RLX)’s stock price fell 3.5% on Friday . The company traded as low as $2.08 and last traded at $2.08. 1,347,002 shares changed hands during trading, a decline of 72% from the average session volume of 4,780,919 shares. The stock had previously closed at $2.15.

Analysts Set New Price Targets

RLX has been the subject of several research reports. Wall Street Zen downgraded shares of RLX Technology from a “hold” rating to a “sell” rating in a report on Saturday, May 24th. Citigroup dropped their price objective on RLX Technology from $2.50 to $2.25 and set a “neutral” rating for the company in a research note on Monday, May 19th.

RLX Technology Price Performance

The company has a market capitalization of $3.38 billion, a PE ratio of 53.76 and a beta of 1.07. The stock’s 50 day simple moving average is $1.88 and its 200-day simple moving average is $2.05.

RLX Technology (NYSE:RLX) last announced its earnings results 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 business had revenue of $111.35 million for the quarter, compared to analysts’ expectations of $763.38 million. RLX Technology had a return on equity of 2.48% and a net margin of 15.70%.

Hedge Funds Weigh In On RLX Technology

Several institutional investors have recently modified their holdings of RLX. Janney Montgomery Scott LLC purchased a new position in RLX Technology in the fourth quarter valued at $31,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in RLX Technology in the 4th quarter valued at about $42,000. Boothbay Fund Management LLC purchased a new position in shares of RLX Technology in the 4th quarter valued at about $43,000. Ground Swell Capital LLC acquired a new position in shares of RLX Technology during the first quarter worth about $47,000. Finally, Headlands Technologies LLC grew its position in shares of RLX Technology by 411.8% during the first quarter. Headlands Technologies LLC now owns 25,766 shares of the company’s stock worth $48,000 after buying an additional 20,732 shares in the last quarter. Institutional investors and hedge funds own 22.68% of the company’s stock.

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.