Renaissance Technologies LLC Acquires Shares of 898,360 RLX Technology Inc. Sponsored ADR $RLX

Key Points

• Renaissance Technologies acquired 898,360 RLX Technology shares worth approximately $1.98 million during the first quarter, giving it a 0.06% stake. Institutional investors collectively own 22.68% of the company.
• RLX reported quarterly earnings of $0.03 per share, in line with estimates, while revenue of $230.01 million exceeded the $166.99 million consensus forecast. The company posted a 20.76% net margin.
• RLX shares opened at $1.99, near the lower end of their $1.76–$2.84 52-week range. Analysts maintain a consensus “Hold” rating with an average price target of $2.50.

Renaissance Technologies LLC acquired a new stake in shares of RLX Technology Inc. Sponsored ADR (NYSE:RLX - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 898,360 shares of the company's stock, valued at approximately $1,976,000. Renaissance Technologies LLC owned about 0.06% of RLX Technology at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of RLX. Schonfeld Strategic Advisors LLC purchased a new position in RLX Technology during the fourth quarter valued at $26,000. Insigneo Advisory Services LLC bought a new stake in shares of RLX Technology in the fourth quarter worth about $29,000. AXQ Capital LP purchased a new stake in shares of RLX Technology in the fourth quarter worth about $30,000. Dimensional Fund Advisors LP purchased a new stake in shares of RLX Technology in the first quarter worth about $32,000. Finally, SmartHarvest Portfolios LLC bought a new position in RLX Technology during the fourth quarter valued at approximately $40,000. Hedge funds and other institutional investors own 22.68% of the company's stock.

RLX Technology Stock Down 0.7%

RLX stock opened at $1.99 on Wednesday. RLX Technology Inc. Sponsored ADR has a 52 week low of $1.76 and a 52 week high of $2.84. The firm has a market capitalization of $3.07 billion, a P/E ratio of 19.85 and a beta of 1.20. The company has a fifty day simple moving average of $1.97 and a two-hundred day simple moving average of $2.14.

RLX Technology (NYSE:RLX - Get Free Report) last posted its earnings results on Wednesday, May 20th. The company reported $0.03 earnings per share for the quarter, hitting analysts' consensus estimates of $0.03. The firm had revenue of $230.01 million for the quarter, compared to the consensus estimate of $166.99 million. RLX Technology had a net margin of 20.76% and a return on equity of 6.15%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a "hold (c)" rating on shares of RLX Technology in a report on Friday, July 17th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $2.50.

RLX Technology Company 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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