RLX Technology (NYSE:RLX) Announces Earnings Results

RLX Technology (NYSE:RLX) issued its earnings results on Friday. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.01), Zacks reports. RLX Technology had a return on equity of 4.54% and a net margin of 22.32%.The company had revenue of $158.63 million for the quarter, compared to analyst estimates of $139.99 million.

RLX Technology Stock Up 10.1%

NYSE:RLX traded up $0.24 on Friday, reaching $2.57. The company’s stock had a trading volume of 7,679,229 shares, compared to its average volume of 1,711,256. RLX Technology has a 12-month low of $1.64 and a 12-month high of $2.84. The stock has a 50 day moving average price of $2.47 and a 200 day moving average price of $2.28. The firm has a market cap of $4.03 billion, a price-to-earnings ratio of 36.65 and a beta of 1.10.

RLX Technology Announces Dividend

The firm also recently announced an annual dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Friday, September 12th. This represents a yield of 38.0%. RLX Technology’s dividend payout ratio (DPR) is 14.29%.

Analysts Set New Price Targets

A number of equities analysts recently commented on RLX shares. Wall Street Zen downgraded RLX Technology from a “hold” rating to a “sell” rating in a research report on Saturday. Weiss Ratings reiterated a “hold (c)” rating on shares of RLX Technology in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $2.25.

Institutional Trading of RLX Technology

Several institutional investors and hedge funds have recently bought and sold shares of RLX. Canada Pension Plan Investment Board lifted its position in RLX Technology by 53.7% in the second quarter. Canada Pension Plan Investment Board now owns 3,804,284 shares of the company’s stock valued at $8,407,000 after buying an additional 1,329,500 shares during the last quarter. Mackenzie Financial Corp purchased a new stake in shares of RLX Technology in the 3rd quarter valued at approximately $7,900,000. Marshall Wace LLP lifted its holdings in shares of RLX Technology by 82.4% in the 3rd quarter. Marshall Wace LLP now owns 2,067,228 shares of the company’s stock worth $5,437,000 after acquiring an additional 934,135 shares during the last quarter. UBS Group AG lifted its holdings in shares of RLX Technology by 113.5% in the 3rd quarter. UBS Group AG now owns 1,123,901 shares of the company’s stock worth $2,956,000 after acquiring an additional 597,434 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of RLX Technology during the 3rd quarter worth approximately $2,388,000. 22.68% of the stock is currently owned by hedge funds and other institutional investors.

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.