IDG China Venture Capital Fund V Associates L.P. Trims Holdings in RLX Technology Inc. Sponsored ADR $RLX

Key Points

• IDG China Venture Capital Fund V Associates L.P. cut its RLX Technology stake by 3.7% in the first quarter, but still holds 57.1 million shares worth about $125.7 million, making RLX its largest portfolio position.
• RLX Technology’s latest quarterly results beat revenue expectations, posting $230.01 million in revenue versus the $166.99 million estimate while matching EPS expectations at $0.03.
• Analyst sentiment remains cautious, with the stock carrying a Hold consensus rating and a consensus price target of $2.50; shares recently traded at $1.96, near the lower end of their 52-week range.

IDG China Venture Capital Fund V Associates L.P. lessened its stake in RLX Technology Inc. Sponsored ADR (NYSE:RLX - Free Report) by 3.7% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 57,133,003 shares of the company's stock after selling 2,199,619 shares during the quarter. RLX Technology makes up about 100.0% of IDG China Venture Capital Fund V Associates L.P.'s investment portfolio, making the stock its largest position. IDG China Venture Capital Fund V Associates L.P. owned about 3.64% of RLX Technology worth $125,693,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the stock. Public Employees Retirement System of Ohio increased its holdings in RLX Technology by 2.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 380,820 shares of the company's stock valued at $887,000 after acquiring an additional 8,509 shares during the last quarter. Franklin Resources Inc. grew its position in shares of RLX Technology by 2.2% during the third quarter. Franklin Resources Inc. now owns 482,778 shares of the company's stock valued at $1,270,000 after purchasing an additional 10,522 shares in the last quarter. Schonfeld Strategic Advisors LLC purchased a new position in shares of RLX Technology during the fourth quarter valued at about $26,000. Insigneo Advisory Services LLC bought a new stake in shares of RLX Technology in the fourth quarter worth about $29,000. Finally, AXQ Capital LP bought a new stake in shares of RLX Technology in the fourth quarter worth about $30,000. 22.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on RLX. Weiss Ratings reissued a "hold (c)" rating on shares of RLX Technology in a research note on Tuesday, April 21st. Citigroup decreased their price objective on RLX Technology from $2.60 to $2.50 and set a "neutral" rating on the stock in a report on Monday, March 16th. Finally, Wall Street Zen upgraded RLX Technology from a "sell" rating to a "hold" rating in a research report on Saturday, March 28th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $2.50.

RLX Technology Price Performance

Shares of NYSE RLX traded down $0.04 during mid-day trading on Friday, hitting $1.96. 664,839 shares of the company's stock traded hands, compared to its average volume of 2,513,756. The company's 50-day moving average is $2.02 and its two-hundred day moving average is $2.18. The company has a market capitalization of $3.03 billion, a P/E ratio of 19.55 and a beta of 1.16. RLX Technology Inc. Sponsored ADR has a 1 year low of $1.76 and a 1 year high of $2.84.

RLX Technology (NYSE:RLX - Get Free Report) last released its quarterly earnings results on Wednesday, May 20th. The company reported $0.03 EPS for the quarter, hitting the consensus estimate of $0.03. RLX Technology had a return on equity of 6.15% and a net margin of 20.76%.The company had revenue of $230.01 million during the quarter, compared to analyst estimates of $166.99 million.

RLX Technology Profile

RLX Technology Inc NYSE: RLX is a China-based company specializing in electronic nicotine delivery systems. The company develops, manufactures and markets closed-pod vaping devices and prefilled cartridges, positioning its products as an alternative to traditional combustible tobacco. RLX emphasizes consistent nicotine delivery, flavor variety and convenience through its proprietary e-liquid formulations and device design.

RLX operates a vertically integrated business model that encompasses research and development, production, quality control and sales.

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