RLX Technology Inc. Sponsored ADR $RLX Stock Holdings Increased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. boosted its stake in shares of RLX Technology Inc. Sponsored ADR (NYSE:RLX - Free Report) by 105.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,495,059 shares of the company's stock after purchasing an additional 767,549 shares during the period. Assenagon Asset Management S.A. owned approximately 0.10% of RLX Technology worth $2,542,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of RLX. OLP CAPITAL MANAGEMENT Ltd purchased a new position in RLX Technology in the 1st quarter worth $29,013,000. Pictet Asset Management Holding SA lifted its position in RLX Technology by 1,517.6% during the first quarter. Pictet Asset Management Holding SA now owns 3,752,344 shares of the company's stock valued at $8,255,000 after purchasing an additional 3,520,377 shares during the period. Bank of America Corp DE lifted its position in RLX Technology by 113.0% during the first quarter. Bank of America Corp DE now owns 2,449,708 shares of the company's stock valued at $5,389,000 after purchasing an additional 1,299,828 shares during the period. Renaissance Technologies LLC acquired a new stake in RLX Technology during the 1st quarter worth about $1,976,000. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of RLX Technology during the 2nd quarter valued at about $674,000. Institutional investors and hedge funds own 22.68% of the company's stock.

RLX Technology Stock Up 0.3%

Shares of RLX Technology stock opened at $1.69 on Thursday. The firm has a market cap of $2.61 billion, a PE ratio of 16.05 and a beta of 1.14. The business has a 50-day moving average price of $1.76 and a 200 day moving average price of $1.95. RLX Technology Inc. Sponsored ADR has a twelve month low of $1.64 and a twelve month high of $2.60.

RLX Technology (NYSE:RLX - Get Free Report) last announced its earnings results on Friday, August 14th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.09 by ($0.06). The business had revenue of $148.73 million for the quarter, compared to analysts' expectations of $173.99 million. RLX Technology had a net margin of 20.24% and a return on equity of 6.20%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on RLX. Weiss Ratings reissued a "hold (c)" rating on shares of RLX Technology in a report on Thursday, October 15th. Wall Street Zen raised RLX Technology from a "sell" rating to a "hold" rating in a report on Saturday, September 19th. Two investment analysts have rated the stock with a Hold rating. Based on data from MarketBeat, RLX Technology has an average rating of "Hold" and an average price target of $2.50.

RLX Technology Company Profile

RLX Technology Inc is a China-based consumer technology company focused on the design, development and sale of vaping products. The company operates primarily through its RELX brand, which offers electronic vaporizer devices, replacement pods and related accessories in a variety of flavors and formats.

Founded in 2018 and headquartered in Beijing, RLX Technology has developed capabilities spanning product research and development, atomization technology, manufacturing, marketing and distribution.

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