RLX Technology (NYSE:RLX) Announces Earnings Results

by · The Markets Daily

RLX Technology (NYSE:RLX – Get Free Report) released its quarterly earnings data on Friday. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.01), Zacks reports. RLX Technology had a net margin of 22.32% and a return on equity of 4.54%. The business had revenue of $158.63 million during the quarter, compared to the consensus estimate of $139.99 million.

RLX Technology Stock Up 10.1%

Shares of RLX Technology stock traded up $0.24 during trading on Friday, reaching $2.57. The company’s stock had a trading volume of 7,679,229 shares, compared to its average volume of 1,711,256. The business’s 50-day moving average price is $2.47 and its 200-day moving average price is $2.28. RLX Technology has a 52 week low of $1.64 and a 52 week high of $2.84. The firm has a market cap of $4.03 billion, a PE ratio of 36.65 and a beta of 1.10.

RLX Technology Dividend Announcement

The company also recently announced an annual dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 12th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Friday, September 12th. This represents a dividend yield of 38.0%. RLX Technology’s dividend payout ratio (DPR) is currently 14.29%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Two Sigma Investments LP acquired a new stake in shares of RLX Technology in the third quarter valued at approximately $323,000. Tower Research Capital LLC TRC increased its stake in RLX Technology by 308.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 54,064 shares of the company’s stock worth $119,000 after acquiring an additional 40,819 shares during the period. Canada Pension Plan Investment Board raised its holdings in RLX Technology by 53.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 3,804,284 shares of the company’s stock valued at $8,407,000 after acquiring an additional 1,329,500 shares in the last quarter. Mackenzie Financial Corp bought a new stake in shares of RLX Technology during the 3rd quarter valued at $7,900,000. Finally, Marshall Wace LLP grew its holdings in shares of RLX Technology by 82.4% during the 3rd quarter. Marshall Wace LLP now owns 2,067,228 shares of the company’s stock worth $5,437,000 after purchasing an additional 934,135 shares in the last quarter. Institutional investors and hedge funds own 22.68% of the company’s stock.

Analyst Ratings Changes

RLX has been the topic of a number of recent analyst reports. Wall Street Zen lowered RLX Technology from a “hold” rating to a “sell” rating in a report on Saturday. Weiss Ratings reiterated a “hold (c)” rating on shares of RLX Technology in a report on Wednesday, October 8th. 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 price target of $2.25.

Read Our Latest Stock Report on RLX Technology

RLX Technology Company Profile

(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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