RLX Technology (NYSE:RLX) Reaches New 52-Week Low – Should You Sell?

RLX Technology Inc. Sponsored ADR (NYSE:RLX) shares hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $1.76 and last traded at $1.7850, with a volume of 215586 shares changing hands. The stock had previously closed at $1.81.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Weiss Ratings restated a “hold (c)” rating on shares of RLX Technology in a report on Friday, July 17th. Wall Street Zen lowered shares of RLX Technology from a “hold” rating to a “sell” rating in a research note on Saturday. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, RLX Technology presently has a consensus rating of “Hold” and an average target price of $2.50.

RLX Technology Trading Down 1.9%

The business has a 50-day moving average of $1.94 and a 200 day moving average of $2.11. The firm has a market capitalization of $2.75 billion, a P/E ratio of 16.90 and a beta of 1.20.

RLX Technology (NYSE:RLX) last announced its quarterly earnings results on Friday, August 14th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.06). RLX Technology had a return on equity of 6.20% and a net margin of 20.24%.The firm had revenue of $148.73 million during the quarter, compared to the consensus estimate of $173.99 million.

Hedge Funds Weigh In On RLX Technology

A number of large investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio increased its stake in RLX Technology by 2.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 380,820 shares of the company’s stock valued at $887,000 after purchasing an additional 8,509 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of RLX Technology by 2.2% in the third quarter. Franklin Resources Inc. now owns 482,778 shares of the company’s stock valued at $1,270,000 after buying an additional 10,522 shares in the last quarter. Schonfeld Strategic Advisors LLC acquired a new position in shares of RLX Technology during the fourth quarter valued at about $26,000. Insigneo Advisory Services LLC bought a new stake in shares of RLX Technology during the fourth quarter worth about $29,000. Finally, AXQ Capital LP bought a new stake in shares of RLX Technology during the fourth quarter worth about $30,000. 22.68% of the stock is currently owned by institutional investors.

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.