Point72 Asset Management L.P. Buys 294,600 Shares of RLX Technology Inc. (NYSE:RLX)

Point72 Asset Management L.P. grew its position in RLX Technology Inc. (NYSE:RLX - Free Report) by 22.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,607,900 shares of the company's stock after purchasing an additional 294,600 shares during the period. Point72 Asset Management L.P. owned about 0.10% of RLX Technology worth $3,473,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Point72 Hong Kong Ltd lifted its holdings in RLX Technology by 11.0% during the fourth quarter. Point72 Hong Kong Ltd now owns 1,463,092 shares of the company's stock worth $3,160,000 after acquiring an additional 145,100 shares during the period. Man Group plc raised its stake in shares of RLX Technology by 118.8% during the 4th quarter. Man Group plc now owns 3,165,638 shares of the company's stock worth $6,838,000 after purchasing an additional 1,718,816 shares during the period. Nomura Holdings Inc. boosted its holdings in shares of RLX Technology by 86.1% in the 4th quarter. Nomura Holdings Inc. now owns 3,600,987 shares of the company's stock worth $7,778,000 after buying an additional 1,665,518 shares during the last quarter. Oasis Management Co Ltd. boosted its holdings in shares of RLX Technology by 9.5% in the 4th quarter. Oasis Management Co Ltd. now owns 5,592,665 shares of the company's stock worth $12,080,000 after buying an additional 484,542 shares during the last quarter. Finally, Millennium Management LLC grew its position in RLX Technology by 40.1% during the fourth quarter. Millennium Management LLC now owns 3,459,960 shares of the company's stock valued at $7,474,000 after buying an additional 991,100 shares during the period. Hedge funds and other institutional investors own 22.68% of the company's stock.

RLX Technology Stock Down 2.0%

RLX traded down $0.04 during trading hours on Monday, hitting $1.97. The stock had a trading volume of 4,779,402 shares, compared to its average volume of 4,743,143. The stock has a market cap of $3.09 billion, a PE ratio of 49.26 and a beta of 1.03. RLX Technology Inc. has a 1 year low of $1.50 and a 1 year high of $2.69. The company's fifty day simple moving average is $1.86 and its 200 day simple moving average is $2.02.

RLX Technology (NYSE:RLX - Get Free Report) last issued its earnings results on Friday, May 16th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $763.38 million.

Wall Street Analyst Weigh In

RLX has been the topic of a number of research analyst reports. Citigroup dropped their target price on shares of RLX Technology from $2.50 to $2.25 and set a "neutral" rating on the stock in a research note on Monday, May 19th. Wall Street Zen cut shares of RLX Technology from a "hold" rating to a "sell" rating in a report on Saturday.

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.