Point72 Asset Management L.P. Boosts Position in RLX Technology Inc. (NYSE:RLX)

Point72 Asset Management L.P. raised its position in shares of RLX Technology Inc. (NYSE:RLX - Free Report) by 22.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,607,900 shares of the company's stock after purchasing an additional 294,600 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.10% of RLX Technology worth $3,473,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Franklin Resources Inc. boosted its holdings in shares of RLX Technology by 14.5% during the 3rd 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 boosted its holdings in shares of RLX Technology by 5.0% during the 3rd quarter. Barclays PLC now owns 110,471 shares of the company's stock worth $200,000 after buying an additional 5,267 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of RLX Technology by 7.6% during the 4th quarter. SG Americas Securities LLC now owns 303,215 shares of the company's stock worth $655,000 after buying an additional 21,476 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in shares of RLX Technology during the 4th quarter worth approximately $31,000. Finally, Catalina Capital Group LLC bought a new position in shares of RLX Technology during the 4th quarter worth approximately $63,000. Institutional investors and hedge funds own 22.68% of the company's stock.

Analyst Ratings Changes

RLX has been the subject of a number of recent research reports. Citigroup decreased their price target on shares of RLX Technology from $2.50 to $2.25 and set a "neutral" rating for the company in a research note on Monday, May 19th. Wall Street Zen lowered shares of RLX Technology from a "hold" rating to a "sell" rating in a research note on Saturday.

RLX Technology Stock Down 2.0%

NYSE:RLX traded down $0.04 during trading hours on Friday, hitting $1.97. 4,779,402 shares of the company traded hands, compared to its average volume of 4,734,437. The firm's 50-day simple moving average is $1.86 and its 200-day simple moving average is $2.02. RLX Technology Inc. has a one year low of $1.50 and a one year high of $2.69. The company has a market cap of $3.09 billion, a PE ratio of 49.26 and a beta of 1.03.

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

About RLX Technology

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.