RLX Technology (NYSE:RLX) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

RLX Technology (NYSE:RLX) released its quarterly earnings data on Wednesday. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.01, FiscalAI reports. RLX Technology had a net margin of 23.27% and a return on equity of 5.74%.

RLX Technology Trading Down 3.5%

RLX Technology stock opened at $2.10 on Wednesday. RLX Technology has a 12 month low of $1.95 and a 12 month high of $2.84. The stock’s 50 day simple moving average is $2.18 and its two-hundred day simple moving average is $2.30. The firm has a market cap of $3.25 billion, a PE ratio of 23.28 and a beta of 1.16.

Institutional Trading of RLX Technology

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Mackenzie Financial Corp acquired a new stake in shares of RLX Technology during the 3rd quarter worth about $7,900,000. Mariner LLC increased its position in shares of RLX Technology by 7,564.1% during the 3rd quarter. Mariner LLC now owns 1,668,476 shares of the company’s stock worth $4,388,000 after purchasing an additional 1,646,706 shares during the last quarter. Capitolis Liquid Global Markets LLC acquired a new stake in shares of RLX Technology during the 4th quarter worth about $3,519,000. Canada Pension Plan Investment Board increased its position in shares of RLX Technology by 53.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 3,804,284 shares of the company’s stock worth $8,407,000 after purchasing an additional 1,329,500 shares during the last quarter. Finally, Marshall Wace LLP increased its position in shares of RLX Technology by 82.4% during the 3rd quarter. Marshall Wace LLP now owns 2,067,228 shares of the company’s stock worth $5,437,000 after purchasing an additional 934,135 shares during the last quarter. 22.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on RLX shares. Wall Street Zen upgraded shares of RLX Technology from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. Citigroup lowered their target price on shares of RLX Technology from $2.60 to $2.50 and set a “neutral” rating for the company in a research note on Monday, March 16th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of RLX Technology in a research note on Tuesday, April 21st. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, RLX Technology has an average rating of “Hold” and a consensus target price of $2.50.

About RLX Technology

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.