RLX Technology (NYSE:RLX) Shares Down 0.5%

RLX Technology Inc. (NYSE:RLX)’s share price traded down 0.5% on Wednesday . The stock traded as low as $1.78 and last traded at $1.81. 1,679,141 shares were traded during mid-day trading, a decline of 64% from the average session volume of 4,672,641 shares. The stock had previously closed at $1.82.

Analysts Set New Price Targets

Several research firms have recently weighed in on RLX. TheStreet upgraded shares of RLX Technology from a “d” rating to a “c-” rating in a research report on Monday, March 18th. Citigroup upped their target price on RLX Technology from $2.40 to $2.76 and gave the company a “buy” rating in a report on Monday, March 18th.

RLX Technology Price Performance

The stock has a market capitalization of $2.84 billion, a P/E ratio of 36.21 and a beta of 0.91. The stock’s fifty day moving average is $1.90 and its 200-day moving average is $1.90.

RLX Technology (NYSE:RLX) last released its earnings results on Friday, May 17th. The company reported ($0.01) earnings per share for the quarter. The firm had revenue of $76.40 million for the quarter. RLX Technology had a return on equity of 2.91% and a net margin of 24.39%.

Hedge Funds Weigh In On RLX Technology

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Lindbrook Capital LLC raised its holdings in RLX Technology by 77.1% in the 1st quarter. Lindbrook Capital LLC now owns 17,586 shares of the company’s stock valued at $34,000 after acquiring an additional 7,657 shares in the last quarter. Panagora Asset Management Inc. bought a new position in RLX Technology in the fourth quarter worth $61,000. Quadrant Capital Group LLC increased its holdings in RLX Technology by 18.0% in the 4th quarter. Quadrant Capital Group LLC now owns 92,575 shares of the company’s stock valued at $185,000 after buying an additional 14,124 shares during the period. Headlands Technologies LLC acquired a new position in shares of RLX Technology in the 4th quarter valued at $215,000. Finally, SG Americas Securities LLC lifted its holdings in shares of RLX Technology by 151.4% during the 4th quarter. SG Americas Securities LLC now owns 168,132 shares of the company’s stock worth $336,000 after acquiring an additional 101,263 shares during the period. Institutional investors own 22.68% of the company’s stock.

About RLX Technology

RLX Technology Inc, together with its subsidiaries, engages in the manufacture and sale of e-vapor products in the People's Republic of China and internationally. It serves partner distributors and retail outlets. The company was founded in 2018 and is headquartered in Beijing, China.