Vanguard Group Inc. Grows Stake in RLX Technology Inc. (NYSE:RLX)

Vanguard Group Inc. lifted its position in shares of RLX Technology Inc. (NYSE:RLX - Free Report) by 1.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,061,726 shares of the company's stock after buying an additional 578,728 shares during the period. Vanguard Group Inc. owned approximately 1.98% of RLX Technology worth $46,903,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of RLX Technology by 8.3% during the 1st quarter. BlackRock Inc. now owns 28,218,391 shares of the company's stock worth $50,510,000 after purchasing an additional 2,160,418 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in RLX Technology by 30.9% during the first quarter. Canada Pension Plan Investment Board now owns 475,660 shares of the company's stock worth $851,000 after buying an additional 112,260 shares during the period. Bridgewater Associates LP increased its position in shares of RLX Technology by 22.0% during the first quarter. Bridgewater Associates LP now owns 2,347,335 shares of the company's stock valued at $4,202,000 after acquiring an additional 423,046 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of RLX Technology by 186.4% in the 1st quarter. Renaissance Technologies LLC now owns 2,713,400 shares of the company's stock worth $4,857,000 after acquiring an additional 1,766,100 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in shares of RLX Technology by 91.5% in the 1st quarter. Hsbc Holdings PLC now owns 1,754,941 shares of the company's stock worth $3,150,000 after acquiring an additional 838,492 shares during the last quarter. Hedge funds and other institutional investors own 22.68% of the company's stock.

RLX Technology Price Performance

Shares of NYSE RLX traded down $0.04 during mid-day trading on Wednesday, hitting $1.78. The company had a trading volume of 3,667,086 shares, compared to its average volume of 6,184,622. The company has a market capitalization of $2.80 billion, a PE ratio of 35.91 and a beta of 0.98. The business's 50-day simple moving average is $1.93 and its 200 day simple moving average is $1.87. RLX Technology Inc. has a 1-year low of $1.39 and a 1-year high of $2.99.

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

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on RLX shares. Citigroup boosted their target price on RLX Technology from $2.40 to $2.76 and gave the company a "buy" rating in a research report on Monday, March 18th. TheStreet upgraded RLX Technology from a "d" rating to a "c-" rating in a report on Monday, March 18th.

About RLX Technology

RLX Technology Inc, together with its subsidiaries, engages in the manufacture and sale of e-vapor products in the People's Republic of China. It serves partner distributors and retail outlets. The company was founded in 2018 and is headquartered in Beijing, China.