Man Group plc Purchases 1,718,816 Shares of RLX Technology Inc. (NYSE:RLX)

Man Group plc increased its position in shares of RLX Technology Inc. (NYSE:RLX - Free Report) by 118.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,165,638 shares of the company's stock after buying an additional 1,718,816 shares during the quarter. Man Group plc owned 0.20% of RLX Technology worth $6,838,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of RLX. Franklin Resources Inc. grew its holdings in shares of RLX Technology by 14.5% during the third quarter. Franklin Resources Inc. now owns 293,830 shares of the company's stock worth $497,000 after buying an additional 37,294 shares in the last quarter. Barclays PLC grew its stake in RLX Technology by 5.0% in the third quarter. Barclays PLC now owns 110,471 shares of the company's stock valued at $200,000 after purchasing an additional 5,267 shares in the last quarter. SG Americas Securities LLC grew its stake in RLX Technology by 7.6% in the fourth quarter. SG Americas Securities LLC now owns 303,215 shares of the company's stock valued at $655,000 after purchasing an additional 21,476 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in RLX Technology in the fourth quarter valued at approximately $31,000. Finally, Catalina Capital Group LLC bought a new position in RLX Technology in the fourth quarter valued at approximately $63,000. 22.68% of the stock is currently owned by institutional investors.

RLX Technology Stock Down 1.0%

RLX stock opened at $1.97 on Tuesday. The business has a 50 day moving average price of $1.87 and a two-hundred day moving average price of $2.01. The company has a market cap of $3.09 billion, a price-to-earnings ratio of 49.26 and a beta of 1.03. RLX Technology Inc. has a twelve month low of $1.50 and a twelve month high of $2.69.

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

Wall Street Analyst Weigh In

Separately, Citigroup decreased their price target on RLX Technology from $2.50 to $2.25 and set a "neutral" rating for the company in a research note on Monday.

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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