OLP CAPITAL MANAGEMENT Ltd Buys New Shares in RLX Technology Inc. Sponsored ADR $RLX

Key Points

• OLP CAPITAL MANAGEMENT Ltd opened a new position in RLX Technology during the first quarter, buying 13.19 million shares valued at about $29.0 million. The stake represented 3.1% of the fund’s holdings and made RLX its fourth-largest position.
• Several other institutional investors also increased their RLX holdings, including Marshall Wace, Canada Pension Plan Investment Board, and JPMorgan Chase, with 22.68% of the stock owned by institutions overall.
• RLX reported quarterly earnings of $0.03 per share, matching estimates, while revenue came in at $230.01 million versus expectations of $166.99 million. Analysts currently rate the stock a Hold with a consensus price target of $2.50.

OLP CAPITAL MANAGEMENT Ltd bought a new position in shares of RLX Technology Inc. Sponsored ADR (NYSE:RLX - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 13,187,715 shares of the company's stock, valued at approximately $29,013,000. RLX Technology comprises approximately 3.1% of OLP CAPITAL MANAGEMENT Ltd's holdings, making the stock its 4th largest position. OLP CAPITAL MANAGEMENT Ltd owned 0.85% of RLX Technology as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Marshall Wace LLP grew its position in shares of RLX Technology by 29.3% in the 2nd quarter. Marshall Wace LLP now owns 1,133,093 shares of the company's stock valued at $2,504,000 after acquiring an additional 257,103 shares during the period. Canada Pension Plan Investment Board raised its holdings in shares of RLX Technology by 53.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 3,804,284 shares of the company's stock valued at $8,407,000 after purchasing an additional 1,329,500 shares during the period. Tower Research Capital LLC TRC raised its holdings in shares of RLX Technology by 308.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 54,064 shares of the company's stock valued at $119,000 after purchasing an additional 40,819 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of RLX Technology by 11,091.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 808,589 shares of the company's stock valued at $2,127,000 after purchasing an additional 801,364 shares during the period. Finally, Cresset Asset Management LLC acquired a new stake in RLX Technology in the 3rd quarter valued at about $66,000. 22.68% of the stock is owned by institutional investors.

RLX Technology Price Performance

Shares of RLX opened at $2.04 on Friday. The company's 50-day moving average is $1.99 and its 200-day moving average is $2.16. The firm has a market capitalization of $3.15 billion, a PE ratio of 20.35 and a beta of 1.16. RLX Technology Inc. Sponsored ADR has a fifty-two week low of $1.76 and a fifty-two week high of $2.84.

RLX Technology (NYSE:RLX - Get Free Report) last announced its 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 net margin of 20.76% and a return on equity of 6.15%. The business had revenue of $230.01 million during the quarter, compared to the consensus estimate of $166.99 million.

Analysts Set New Price Targets

RLX has been the topic of several research analyst reports. Wall Street Zen upgraded RLX Technology from a "sell" rating to a "hold" rating in a research note on Saturday, March 28th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of RLX Technology in a research report on Friday, July 17th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $2.50.

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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