D. E. Shaw & Co. Inc. Purchases 1,166,409 Shares of RLX Technology Inc. (NYSE:RLX)

D. E. Shaw & Co. Inc. raised its position in shares of RLX Technology Inc. (NYSE:RLX - Free Report) by 124.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,102,446 shares of the company's stock after buying an additional 1,166,409 shares during the period. D. E. Shaw & Co. Inc. owned about 0.13% of RLX Technology worth $4,541,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Janney Montgomery Scott LLC bought a new stake in RLX Technology during the 4th quarter worth about $31,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of RLX Technology during the fourth quarter valued at approximately $42,000. Boothbay Fund Management LLC acquired a new stake in shares of RLX Technology in the fourth quarter valued at approximately $43,000. Catalina Capital Group LLC acquired a new stake in shares of RLX Technology in the fourth quarter valued at approximately $63,000. Finally, Bayesian Capital Management LP bought a new position in RLX Technology in the 4th quarter worth approximately $82,000. Institutional investors own 22.68% of the company's stock.

Analysts Set New Price Targets

Separately, Citigroup lowered RLX Technology from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $2.80 to $2.50 in a research report on Monday, March 17th.

RLX Technology Price Performance

RLX opened at $1.99 on Friday. The business's 50-day moving average price is $1.88 and its two-hundred day moving average price is $2.01. RLX Technology Inc. has a 1 year low of $1.50 and a 1 year high of $2.69. The company has a market capitalization of $3.12 billion, a price-to-earnings ratio of 49.64 and a beta of 1.03.

RLX Technology (NYSE:RLX - Get Free Report) last announced its quarterly earnings data on Friday, May 16th. The company reported $0.02 EPS for the quarter, missing analysts' consensus estimates of $0.17 by ($0.15). The business had revenue of $111.35 million during the quarter, compared to the consensus estimate of $763.38 million. RLX Technology had a return on equity of 2.48% and a net margin of 15.70%.

RLX Technology Profile

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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