RLX Technology (NYSE:RLX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of RLX Technology (NYSE:RLX) from a sell rating to a hold rating in a research report sent to investors on Saturday morning.

Separately, Citigroup lowered their price objective on RLX Technology from $2.50 to $2.25 and set a “neutral” rating on the stock in a research report on Monday, May 19th.

RLX Technology Price Performance

NYSE:RLX opened at $2.19 on Friday. The company has a market cap of $3.43 billion, a P/E ratio of 54.64 and a beta of 1.07. The stock’s fifty day moving average price is $1.92 and its two-hundred day moving average price is $2.06. RLX Technology has a 1 year low of $1.50 and a 1 year high of $2.69.

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

Institutional Investors Weigh In On RLX Technology

A number of institutional investors and hedge funds have recently made changes to their positions in the business. First Beijing Investment Ltd raised its position in RLX Technology by 75.6% during the first quarter. First Beijing Investment Ltd now owns 41,036,045 shares of the company’s stock valued at $77,148,000 after purchasing an additional 17,661,160 shares in the last quarter. BRIGHT VALLEY CAPITAL Ltd purchased a new stake in RLX Technology during the fourth quarter valued at about $19,297,000. Barclays PLC raised its position in RLX Technology by 5,047.4% during the fourth quarter. Barclays PLC now owns 5,686,433 shares of the company’s stock valued at $12,282,000 after purchasing an additional 5,575,962 shares in the last quarter. Canada Pension Plan Investment Board raised its position in RLX Technology by 49,495,580.0% during the first quarter. Canada Pension Plan Investment Board now owns 2,474,784 shares of the company’s stock valued at $4,653,000 after purchasing an additional 2,474,779 shares in the last quarter. Finally, Nomura Holdings Inc. raised its position in RLX Technology by 54.3% during the first quarter. Nomura Holdings Inc. now owns 5,555,303 shares of the company’s stock valued at $10,444,000 after purchasing an additional 1,954,316 shares in the last quarter. Hedge funds and other institutional investors 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.