RLX Technology (NYSE:RLX) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of RLX Technology (NYSE:RLX) from a hold rating to a sell rating in a research report released on Tuesday.

Separately, Weiss Ratings restated a “hold (c)” rating on shares of RLX Technology in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, RLX Technology has an average rating of “Hold” and a consensus price target of $2.25.

RLX Technology Stock Up 3.1%

RLX stock opened at $2.33 on Tuesday. RLX Technology has a twelve month low of $1.66 and a twelve month high of $2.84. The company has a market cap of $3.66 billion, a PE ratio of 33.29 and a beta of 1.10. The business’s 50-day simple moving average is $2.36 and its 200 day simple moving average is $2.38.

RLX Technology (NYSE:RLX) last posted its quarterly earnings results on Friday, November 14th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.01). RLX Technology had a net margin of 21.05% and a return on equity of 4.74%. The firm had revenue of $158.63 million during the quarter, compared to analyst estimates of $139.99 million.

RLX Technology announced that its board has authorized a stock repurchase plan on Wednesday, December 31st that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

RLX Technology Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Monday, February 9th. Stockholders of record on Monday, January 26th will be paid a $0.10 dividend. The ex-dividend date is Monday, January 26th. This represents a dividend yield of 390.0%. This is an increase from RLX Technology’s previous annual dividend of $0.01. RLX Technology’s dividend payout ratio is currently 14.29%.

Institutional Trading of RLX Technology

Several institutional investors have recently bought and sold shares of RLX. BNP Paribas Financial Markets bought a new stake in RLX Technology in the third quarter valued at $60,000. Cresset Asset Management LLC acquired a new stake in shares of RLX Technology in the 3rd quarter valued at $66,000. Brevan Howard Capital Management LP bought a new stake in shares of RLX Technology in the 3rd quarter worth about $73,000. Vanguard Personalized Indexing Management LLC grew its holdings in shares of RLX Technology by 73.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 40,168 shares of the company’s stock worth $89,000 after purchasing an additional 17,060 shares during the last quarter. Finally, Profund Advisors LLC increased its position in shares of RLX Technology by 21.0% during the 3rd quarter. Profund Advisors LLC now owns 40,305 shares of the company’s stock worth $106,000 after purchasing an additional 7,006 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 (NYSE:RLX) is a China-based company specializing in electronic nicotine delivery systems. The company develops, manufactures and markets closed-pod vaping devices and prefilled cartridges, positioning its products as an alternative to traditional combustible tobacco. RLX emphasizes consistent nicotine delivery, flavor variety and convenience through its proprietary e-liquid formulations and device design.

RLX operates a vertically integrated business model that encompasses research and development, production, quality control and sales.