RLX Technology (NYSE:RLX) Sets New 1-Year Low – Time to Sell?

RLX Technology Inc. Sponsored ADR (NYSE:RLX)’s share price hit a new 52-week low during trading on Tuesday . The stock traded as low as $1.76 and last traded at $1.7650, with a volume of 1612881 shares. The stock had previously closed at $1.83.

Analysts Set New Price Targets

A number of analysts recently commented on RLX shares. Wall Street Zen downgraded shares of RLX Technology from a “hold” rating to a “sell” rating in a report on Saturday, August 22nd. Weiss Ratings restated 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, According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $2.50.

RLX Technology Trading Up 2.5%

The firm’s fifty day moving average price is $1.93 and its 200 day moving average price is $2.08. The firm has a market capitalization of $2.84 billion, a PE ratio of 17.48 and a beta of 1.16.

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

Hedge Funds Weigh In On RLX Technology

Several institutional investors have recently bought and sold shares of the stock. Marshall Wace LLP lifted its holdings in RLX Technology by 29.3% in the 2nd quarter. Marshall Wace LLP now owns 1,133,093 shares of the company’s stock worth $2,504,000 after purchasing an additional 257,103 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in 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 acquiring an additional 1,329,500 shares during the last quarter. Tower Research Capital LLC TRC grew its position in shares of RLX Technology by 308.2% in the second quarter. Tower Research Capital LLC TRC now owns 54,064 shares of the company’s stock valued at $119,000 after purchasing an additional 40,819 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of RLX Technology by 11,091.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 808,589 shares of the company’s stock worth $2,127,000 after purchasing an additional 801,364 shares during the last quarter. Finally, Cresset Asset Management LLC acquired a new stake in RLX Technology in the 3rd quarter valued at approximately $66,000. 22.68% of the stock is currently owned by institutional investors.

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.