RLX Technology (NYSE:RLX) Raised to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen upgraded RLX Technology from “Sell” to “Hold.” Weiss Ratings also maintains a Hold rating; MarketBeat reports an average rating of Hold and a consensus price target of $2.50.
• RLX shares recently traded at $1.55, near their 52-week low of $1.53, and were down 0.3% in Friday’s midday trading.
• The company’s latest reported quarter fell short of expectations: EPS was $0.03 versus $0.09 expected, while revenue was $148.73 million versus an estimated $173.99 million.

RLX Technology (NYSE:RLX - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Sunday, Wall Street Zen reports.

Separately, Weiss Ratings reaffirmed a "hold (c)" rating on shares of RLX Technology in a research note on Thursday, October 15th. Two research analysts have rated the stock with a Hold rating. Based on data from MarketBeat, RLX Technology presently has an average rating of "Hold" and a consensus price target of $2.50.

RLX Technology Stock Down 0.3%

Shares of NYSE:RLX traded down $0.01 during midday trading on Friday, reaching $1.55. The company's stock had a trading volume of 1,067,222 shares, compared to its average volume of 1,548,790. The firm has a market cap of $2.41 billion, a price-to-earnings ratio of 14.81 and a beta of 1.14. RLX Technology has a 1 year low of $1.53 and a 1 year high of $2.60. The business has a 50 day moving average price of $1.69 and a 200 day moving average price of $2.00.

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

Institutional Trading of RLX Technology

Several institutional investors have recently made changes to their positions in the stock. Ground Swell Capital LLC purchased a new stake in RLX Technology during the third quarter valued at about $26,000. Assenagon Asset Management S.A. increased its stake in RLX Technology by 105.5% during the third quarter. Assenagon Asset Management S.A. now owns 1,495,059 shares of the company's stock worth $2,542,000 after acquiring an additional 767,549 shares during the last quarter. WINTON GROUP Ltd increased its stake in RLX Technology by 177.7% during the second quarter. WINTON GROUP Ltd now owns 117,910 shares of the company's stock worth $224,000 after acquiring an additional 75,443 shares during the last quarter. Engineers Gate Manager LP purchased a new position in shares of RLX Technology in the 2nd quarter worth about $71,000. Finally, Headlands Technologies LLC raised its holdings 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. 22.68% of the stock is owned by hedge funds and other institutional investors.

About RLX Technology

RLX Technology is a China-based company that develops, manufactures and sells electronic vapor products under the RELX brand. Founded in 2018 by Kate Wang, the company focuses on branded e-cigarettes and related products. Its offerings include electronic vapor devices, prefilled pods and accessories. RLX also conducts product research and development and supports the manufacturing and distribution of its products. The company serves customers in China and international markets through retail and distribution channels.

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