RLX Technology Inc. Sponsored ADR $RLX Shares Acquired by First Beijing Investment Ltd

Key Points

• First Beijing Investment Ltd has significantly increased its stake in RLX Technology by 75.6%, acquiring over 17 million additional shares, making it the 6th largest holding in their portfolio.
• RLX Technology reported a loss of $0.16 per share in its latest quarterly earnings, falling short of analysts' expectations of $0.18.
• The company recently announced a dividend of $0.01 per share, with a yield of 70%, to be paid out to investors on September 26th.

First Beijing Investment Ltd boosted its holdings in RLX Technology Inc. Sponsored ADR (NYSE:RLX - Free Report) by 75.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 41,036,045 shares of the company's stock after purchasing an additional 17,661,160 shares during the quarter. RLX Technology accounts for about 5.3% of First Beijing Investment Ltd's portfolio, making the stock its 6th largest holding. First Beijing Investment Ltd owned approximately 2.61% of RLX Technology worth $77,148,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. raised its stake in RLX Technology by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 27,935,598 shares of the company's stock worth $52,519,000 after purchasing an additional 156,350 shares in the last quarter. BRIGHT VALLEY CAPITAL Ltd raised its stake in RLX Technology by 7.5% in the 1st quarter. BRIGHT VALLEY CAPITAL Ltd now owns 9,605,371 shares of the company's stock worth $18,058,000 after purchasing an additional 671,639 shares in the last quarter. Oasis Management Co Ltd. raised its stake in 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 purchasing an additional 484,542 shares in the last quarter. Nomura Holdings Inc. raised its stake in RLX Technology by 54.3% in the 1st quarter. Nomura Holdings Inc. now owns 5,555,303 shares of the company's stock worth $10,444,000 after purchasing an additional 1,954,316 shares in the last quarter. Finally, Millennium Management LLC raised its position in shares of RLX Technology by 40.1% in the 4th 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 in the last quarter. Institutional investors and hedge funds own 22.68% of the company's stock.

Analysts Set New Price Targets

RLX has been the subject of several analyst reports. Wall Street Zen upgraded shares of RLX Technology from a "sell" rating to a "hold" rating in a research report on Saturday, August 30th. Citigroup dropped their target price on shares of RLX Technology from $2.50 to $2.25 and set a "neutral" rating for the company in a research report on Monday, May 19th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, RLX Technology presently has an average rating of "Hold" and a consensus target price of $2.25.

RLX Technology Trading Up 3.6%

Shares of NYSE:RLX opened at $2.70 on Tuesday. The firm has a 50 day moving average of $2.32 and a 200-day moving average of $2.12. The stock has a market capitalization of $4.25 billion, a PE ratio of 38.63 and a beta of 1.10. RLX Technology Inc. Sponsored ADR has a 12 month low of $1.57 and a 12 month high of $2.84.

RLX Technology (NYSE:RLX - Get Free Report) last released its quarterly earnings data on Friday, August 22nd. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.18 by ($0.16). The company had revenue of $122.88 million for the quarter, compared to analyst estimates of $725.00 million. RLX Technology had a return on equity of 4.54% and a net margin of 22.32%.

RLX Technology Announces Dividend

The business also recently disclosed an annual dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be given a dividend of $0.01 per share. This represents a yield of 70.0%. The ex-dividend date is Friday, September 12th. RLX Technology's dividend payout ratio is currently 14.29%.

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.

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