RLX Technology (NYSE:RLX) Upgraded to “Hold” at Wall Street Zen

by · The Markets Daily

Wall Street Zen upgraded shares of RLX Technology (NYSE:RLX – Free Report) from a sell rating to a hold rating in a research note issued to investors on Saturday.

Separately, Citigroup decreased their price target on shares of RLX Technology from $2.50 to $2.25 and set a “neutral” rating for the company in a research note on Monday, May 19th.

Read Our Latest Stock Report on RLX

RLX Technology Stock Performance

RLX Technology stock opened at $2.36 on Friday. RLX Technology has a 52-week low of $1.50 and a 52-week high of $2.69. The firm has a 50 day moving average price of $2.11 and a two-hundred day moving average price of $2.10. The firm has a market cap of $3.70 billion, a price-to-earnings ratio of 39.26 and a beta of 1.08.

RLX Technology (NYSE:RLX – Get Free Report) last released its quarterly earnings data on Friday, May 16th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.15). The company had revenue of $111.35 million during the quarter, compared to the consensus estimate of $763.38 million. RLX Technology had a net margin of 21.38% and a return on equity of 4.05%.

Institutional Trading of RLX Technology

Several institutional investors have recently made changes to their positions in the company. Mariner LLC grew its position in RLX Technology by 0.3% during the fourth quarter. Mariner LLC now owns 1,671,840 shares of the company’s stock valued at $3,611,000 after buying an additional 4,987 shares during the period. Bank of America Corp DE raised its stake in RLX Technology by 6.0% in the fourth quarter. Bank of America Corp DE now owns 166,949 shares of the company’s stock valued at $361,000 after purchasing an additional 9,512 shares in the last quarter. Marshall Wace LLP raised its stake in RLX Technology by 3.9% in the fourth quarter. Marshall Wace LLP now owns 267,606 shares of the company’s stock valued at $578,000 after purchasing an additional 10,071 shares in the last quarter. Invesco Ltd. raised its stake in shares of RLX Technology by 2.2% during the first quarter. Invesco Ltd. now owns 590,243 shares of the company’s stock worth $1,110,000 after acquiring an additional 12,834 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its stake in shares of RLX Technology by 28.3% in the fourth quarter. Russell Investments Group Ltd. now owns 69,217 shares of the company’s stock worth $150,000 after buying an additional 15,280 shares during the period. Institutional investors own 22.68% of the company’s stock.

About RLX Technology

(Get Free Report)

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.

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