RLX Technology (NYSE:RLX) Shares Gap Down to $1.91

RLX Technology Inc. (NYSE:RLX - Get Free Report)'s share price gapped down before the market opened on Monday . The stock had previously closed at $1.91, but opened at $1.87. RLX Technology shares last traded at $1.91, with a volume of 161,164 shares changing hands.

Analyst Ratings Changes

RLX has been the subject of several recent analyst reports. TheStreet raised RLX Technology from a "d" rating to a "c-" rating in a research note on Monday, March 18th. Citigroup upped their price objective on shares of RLX Technology from $2.40 to $2.76 and gave the stock a "buy" rating in a report on Monday, March 18th.

RLX Technology Stock Performance

The stock has a market capitalization of $3.08 billion, a P/E ratio of 39.21 and a beta of 0.98. The business has a 50 day simple moving average of $1.90 and a 200-day simple moving average of $1.90.

RLX Technology (NYSE:RLX - Get Free Report) last announced its quarterly earnings data on Friday, March 15th. The company reported $0.02 earnings per share for the quarter. The business had revenue of $73.31 million during the quarter. RLX Technology had a return on equity of 3.32% and a net margin of 34.74%.

Institutional Investors Weigh In On RLX Technology

Institutional investors and hedge funds have recently bought and sold shares of the business. Lindbrook Capital LLC grew its stake in shares of RLX Technology by 77.1% in the 1st quarter. Lindbrook Capital LLC now owns 17,586 shares of the company's stock worth $34,000 after purchasing an additional 7,657 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in RLX Technology by 18.0% during the fourth quarter. Quadrant Capital Group LLC now owns 92,575 shares of the company's stock worth $185,000 after buying an additional 14,124 shares in the last quarter. Vanguard Personalized Indexing Management LLC acquired a new position in RLX Technology in the third quarter worth approximately $37,000. Panagora Asset Management Inc. bought a new position in shares of RLX Technology in the fourth quarter valued at $61,000. Finally, Hsbc Holdings PLC lifted its position in shares of RLX Technology by 120.7% during the 3rd quarter. Hsbc Holdings PLC now owns 115,466 shares of the company's stock valued at $174,000 after acquiring an additional 63,146 shares during the last quarter. 22.68% of the stock is owned by institutional investors and hedge funds.

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.