Connor Clark & Lunn Investment Management Ltd. Purchases 589,748 Shares of RLX Technology Inc. Sponsored ADR $RLX

Key Points

• Connor Clark & Lunn Investment Management Ltd. has increased its stake in RLX Technology by 73.6%, holding approximately 1.39 million shares valued at $2.6 million.
• RLX Technology's stock price recently dropped to $2.13, with a market capitalization of $3.35 billion, and a price-to-earnings ratio of 35.51.
• Analysts are showing concern as Citigroup reduced its price target for RLX Technology from $2.50 to $2.25, indicating a shift to a "neutral" rating.

Connor Clark & Lunn Investment Management Ltd. lifted its stake in RLX Technology Inc. Sponsored ADR (NYSE:RLX - Free Report) by 73.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,390,852 shares of the company's stock after buying an additional 589,748 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.09% of RLX Technology worth $2,615,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Boothbay Fund Management LLC bought a new position in shares of RLX Technology in the fourth quarter worth about $43,000. Headlands Technologies LLC raised its stake in shares of RLX Technology by 411.8% in the first quarter. Headlands Technologies LLC now owns 25,766 shares of the company's stock worth $48,000 after buying an additional 20,732 shares during the period. Bayesian Capital Management LP bought a new position in shares of RLX Technology in the fourth quarter worth about $82,000. Two Sigma Advisers LP raised its stake in shares of RLX Technology by 192.7% in the fourth quarter. Two Sigma Advisers LP now owns 55,900 shares of the company's stock worth $121,000 after buying an additional 36,800 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in shares of RLX Technology by 28.3% in the fourth quarter. Russell Investments Group Ltd. now owns 69,217 shares of the company's stock worth $150,000 after buying an additional 15,280 shares during the period. Institutional investors own 22.68% of the company's stock.

RLX Technology Stock Performance

NYSE:RLX traded down $0.0050 during trading hours on Tuesday, reaching $2.2250. The stock had a trading volume of 1,102,776 shares, compared to its average volume of 4,621,854. RLX Technology Inc. Sponsored ADR has a 52 week low of $1.57 and a 52 week high of $2.69. The company has a 50 day moving average price of $2.23 and a two-hundred day moving average price of $2.11. The stock has a market capitalization of $3.50 billion, a PE ratio of 37.09 and a beta of 1.09.

RLX Technology (NYSE:RLX - Get Free Report) last released its quarterly earnings data 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 return on equity of 4.05% and a net margin of 21.38%.The firm had revenue of $111.35 million during the quarter, compared to the consensus estimate of $763.38 million.

Analyst Upgrades and Downgrades

RLX has been the topic of several recent research reports. Wall Street Zen downgraded RLX Technology from a "hold" rating to a "sell" rating in a research note on Saturday. Citigroup decreased their target price on RLX Technology from $2.50 to $2.25 and set a "neutral" rating on the stock in a research note on Monday, May 19th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, RLX Technology has a consensus rating of "Hold" and a consensus target price of $2.25.

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.