Millennium Management LLC Increases Holdings in RLX Technology Inc. (NYSE:RLX)

Millennium Management LLC lifted its position in RLX Technology Inc. (NYSE:RLX - Free Report) by 40.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,459,960 shares of the company's stock after purchasing an additional 991,100 shares during the quarter. Millennium Management LLC owned about 0.22% of RLX Technology worth $7,474,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of RLX. Janney Montgomery Scott LLC purchased a new position in RLX Technology during the fourth quarter valued at approximately $31,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in RLX Technology during the fourth quarter valued at approximately $42,000. Boothbay Fund Management LLC purchased a new position in RLX Technology during the fourth quarter valued at approximately $43,000. Catalina Capital Group LLC purchased a new position in RLX Technology during the fourth quarter valued at approximately $63,000. Finally, Bayesian Capital Management LP purchased a new position in RLX Technology during the fourth quarter valued at approximately $82,000. 22.68% of the stock is currently owned by hedge funds and other institutional investors.

RLX Technology Stock Performance

Shares of NYSE:RLX traded up $0.05 during trading on Friday, reaching $2.07. The stock had a trading volume of 11,251,477 shares, compared to its average volume of 4,768,270. The business has a fifty day moving average price of $1.86 and a 200-day moving average price of $2.03. The stock has a market cap of $3.24 billion, a PE ratio of 51.64 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.

RLX Technology (NYSE:RLX - Get Free Report) last issued its quarterly 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). The firm had revenue of $111.35 million during the quarter, compared to analyst estimates of $763.38 million. RLX Technology had a return on equity of 2.48% and a net margin of 15.70%.

Analysts Set New Price Targets

Several research analysts recently weighed in on RLX shares. Wall Street Zen cut RLX Technology from a "hold" rating to a "sell" rating in a research report on Saturday, May 24th. Citigroup reduced their price target 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.