RLX Technology Inc. Sponsored ADR $RLX Shares Bought by JPMorgan Chase & Co.

Key Points

• JPMorgan Chase increased its stake in RLX by 11,091.5% in Q3, purchasing 801,364 shares and now owning 808,589 shares (about 0.05% of the company, roughly $2.13 million).
• RLX trades near $2.14 with a market cap of $3.35 billion and a P/E of 23.72; the company reported $0.03 EPS on $163.13 million in quarterly revenue and a net margin of 23.27%.
• Wall Street has a consensus "Hold" rating with a $2.50 target, and the board reportedly approved a share buyback program that the filing lists as authorizing <$0.00> (no dollar amount specified).

JPMorgan Chase & Co. raised its holdings in RLX Technology Inc. Sponsored ADR (NYSE:RLX - Free Report) by 11,091.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 808,589 shares of the company's stock after purchasing an additional 801,364 shares during the period. JPMorgan Chase & Co. owned about 0.05% of RLX Technology worth $2,127,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. BNP Paribas Financial Markets acquired a new position in shares of RLX Technology in the 3rd quarter valued at approximately $60,000. Cresset Asset Management LLC acquired a new position in shares of RLX Technology in the 3rd quarter valued at approximately $66,000. Brevan Howard Capital Management LP acquired a new position in shares of RLX Technology in the 3rd quarter valued at approximately $73,000. Profund Advisors LLC raised its position in shares of RLX Technology by 21.0% in the 3rd quarter. Profund Advisors LLC now owns 40,305 shares of the company's stock valued at $106,000 after purchasing an additional 7,006 shares in the last quarter. Finally, Virtus Advisers LLC acquired a new position in shares of RLX Technology in the 3rd quarter valued at approximately $115,000. 22.68% of the stock is owned by institutional investors and hedge funds.

RLX Technology Price Performance

Shares of RLX opened at $2.14 on Tuesday. The company has a market cap of $3.35 billion, a P/E ratio of 23.72 and a beta of 1.24. The stock has a fifty day moving average price of $2.29 and a 200 day moving average price of $2.36. RLX Technology Inc. Sponsored ADR has a 12 month low of $1.66 and a 12 month high of $2.84.

RLX Technology (NYSE:RLX - Get Free Report) last issued its quarterly earnings data on Saturday, February 14th. The company reported $0.03 EPS for the quarter. The firm had revenue of $163.13 million during the quarter. RLX Technology had a return on equity of 5.74% and a net margin of 23.27%.

RLX Technology declared that its Board of Directors has approved a share buyback program on Wednesday, December 31st that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on RLX. Weiss Ratings reiterated a "hold (c)" rating on shares of RLX Technology in a report on Thursday, January 22nd. Wall Street Zen upgraded RLX Technology from a "sell" rating to a "hold" rating in a report on Saturday, March 28th. Finally, Citigroup lowered their price target on RLX Technology from $2.60 to $2.50 and set a "neutral" rating for the company in a report on Monday, March 16th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price 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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