RLX Technology (NYSE:RLX) Upgraded by Wall Street Zen to "Hold" Rating

Key Points

• Wall Street Zen upgraded RLX Technology from “Sell” to “Hold,” while Weiss Ratings maintained a “Hold” rating. The stock has an average rating of “Hold” and a consensus price target of $2.50.
• RLX shares opened at $1.71, near their 52-week low of $1.67, with the stock down 0.9%. The company’s latest quarterly results missed estimates, reporting $0.03 in EPS versus $0.09 expected and revenue of $148.73 million versus $173.99 million projected.
• Institutional investors own 22.68% of RLX Technology, with several firms—including OLP Capital Management and Bank of America—building or initiating positions recently.

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 note issued to investors on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings restated a "hold (c)" rating on shares of RLX Technology in a research report on Friday, July 17th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat, RLX Technology has an average rating of "Hold" and a consensus price target of $2.50.

RLX Technology Stock Down 0.9%

Shares of NYSE RLX opened at $1.71 on Friday. The stock has a market capitalization of $2.64 billion, a price-to-earnings ratio of 16.24 and a beta of 1.16. RLX Technology has a 52 week low of $1.67 and a 52 week high of $2.68. The firm has a 50-day moving average price of $1.90 and a 200 day moving average price of $2.03.

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

Institutional Investors Weigh In On RLX Technology

A number of institutional investors and hedge funds have recently bought and sold shares of RLX. Renaissance Technologies LLC purchased a new stake in shares of RLX Technology in the first quarter valued at $1,976,000. OLP CAPITAL MANAGEMENT Ltd purchased a new position in RLX Technology during the first quarter worth about $29,013,000. Bank of America Corp DE boosted its stake in RLX Technology by 113.0% in the 1st quarter. Bank of America Corp DE now owns 2,449,708 shares of the company's stock worth $5,389,000 after buying an additional 1,299,828 shares during the last quarter. Sei Investments Co. acquired a new stake in RLX Technology in the 1st quarter worth about $687,000. Finally, Perseverance Asset Management International grew its holdings in RLX Technology by 4.4% in the 4th quarter. Perseverance Asset Management International now owns 7,790,928 shares of the company's stock valued at $18,153,000 after buying an additional 325,361 shares during the period. Hedge funds and other institutional investors own 22.68% of the company's stock.

RLX Technology Company Profile

RLX Technology, Inc is a China-based company that develops, manufactures, and sells vaping products under the RELX brand. Its product portfolio includes electronic vaporizer devices, refillable or pre-filled pod cartridges, atomizers, and related accessories designed for adult consumers.

Founded in 2018, the company has focused on building a closed-system vaping platform that combines proprietary hardware, e-liquid formulations, and pod-based products. RLX Technology has also invested in research and development, manufacturing capabilities, and retail distribution to support its product offerings.

The company primarily serves the Chinese market and has pursued international expansion through sales and distribution in selected overseas markets.

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