RLX Technology (NYSE:RLX) Upgraded to Hold 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 note published on Saturday,Wall Street Zen reports.

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of RLX Technology in a report on Friday, July 17th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $2.50.

RLX Technology Trading Down 0.9%

NYSE:RLX opened at $1.71 on Friday. RLX Technology has a twelve month low of $1.67 and a twelve month high of $2.68. The company has a market cap of $2.64 billion, a price-to-earnings ratio of 16.24 and a beta of 1.16. The stock has a fifty day simple moving average of $1.90 and a 200-day simple moving average of $2.03.

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

Institutional Trading of RLX Technology

A number of hedge funds have recently added to or reduced their stakes in the business. AXQ Capital LP purchased a new position in RLX Technology during the 4th quarter valued at about $30,000. Dimensional Fund Advisors LP bought a new stake in shares of RLX Technology in the 1st quarter valued at about $32,000. Engineers Gate Manager LP purchased a new stake in shares of RLX Technology in the 2nd quarter worth approximately $71,000. Headlands Technologies LLC lifted its position in shares of RLX Technology by 26.0% in the 2nd quarter. Headlands Technologies LLC now owns 69,479 shares of the company’s stock worth $132,000 after purchasing an additional 14,350 shares during the period. Finally, WINTON GROUP Ltd boosted its stake in shares of RLX Technology by 177.7% during the second quarter. WINTON GROUP Ltd now owns 117,910 shares of the company’s stock valued at $224,000 after purchasing an additional 75,443 shares in the last quarter. 22.68% of the stock is owned by hedge funds and other institutional investors.

RLX Technology Company Profile

RLX Technology, Inc is a China-based company that develops, manufactures, and sells vaping products under the RELX brand. Its product portfolio includes electronic vaporizer devices, refillable or pre-filled pod cartridges, atomizers, and related accessories designed for adult consumers.

Founded in 2018, the company has focused on building a closed-system vaping platform that combines proprietary hardware, e-liquid formulations, and pod-based products. RLX Technology has also invested in research and development, manufacturing capabilities, and retail distribution to support its product offerings.

The company primarily serves the Chinese market and has pursued international expansion through sales and distribution in selected overseas markets.