Northern Trust Corp Increases Stake in RLX Technology Inc. (NYSE:RLX)

Northern Trust Corp lifted its position in RLX Technology Inc. (NYSE:RLX - Free Report) by 56.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 862,499 shares of the company's stock after acquiring an additional 311,869 shares during the quarter. Northern Trust Corp owned approximately 0.05% of RLX Technology worth $1,863,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Janney Montgomery Scott LLC purchased a new stake in RLX Technology in the fourth quarter valued at approximately $31,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of RLX Technology in the fourth quarter worth approximately $42,000. Boothbay Fund Management LLC purchased a new stake in RLX Technology in the fourth quarter worth $43,000. Catalina Capital Group LLC purchased a new stake in RLX Technology in the fourth quarter worth $63,000. Finally, Quantbot Technologies LP purchased a new stake in RLX Technology in the fourth quarter worth $123,000. Institutional investors own 22.68% of the company's stock.

RLX Technology Stock Up 2.2%

RLX stock traded up $0.05 during midday trading on Friday, hitting $2.07. The company's stock had a trading volume of 11,251,477 shares, compared to its average volume of 4,768,270. RLX Technology Inc. has a 12 month low of $1.50 and a 12 month high of $2.69. The firm has a market capitalization of $3.24 billion, a price-to-earnings ratio of 51.64 and a beta of 1.03. The company has a 50 day moving average of $1.86 and a two-hundred day moving average of $2.03.

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 the consensus estimate of $0.17 by ($0.15). RLX Technology had a net margin of 15.70% and a return on equity of 2.48%. The business had revenue of $111.35 million during the quarter, compared to the consensus estimate of $763.38 million.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Wall Street Zen lowered RLX Technology from a "hold" rating to a "sell" rating in a research report on Saturday, May 24th. Citigroup decreased their target price on RLX Technology from $2.50 to $2.25 and set a "neutral" rating for the company in a research report on Monday, May 19th.

RLX Technology Company 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.