RLX Technology (NYSE:RLX) Reaches New 1-Year Low - What's Next?

Key Points

• RLX Technology shares fell to a new 52-week low of $1.59, trading 1.5% lower, with the stock below both its 50-day and 200-day moving averages.
• The company’s latest quarterly results missed expectations: earnings were $0.03 per share versus the $0.09 consensus estimate, while revenue of $148.73 million fell short of the $173.99 million forecast.
• Analysts maintain a consensus “Hold” rating with an average price target of $2.50; institutional investors own 22.68% of the company, with some funds recently increasing their positions.

Shares of RLX Technology Inc. Sponsored ADR (NYSE:RLX - Get Free Report) hit a new 52-week low during mid-day trading on Wednesday. The company traded as low as $1.59 and last traded at $1.5950, with a volume of 1,386,059 shares traded. The stock had previously closed at $1.63.

Analyst Ratings Changes

A number of analysts recently weighed in on RLX shares. Wall Street Zen upgraded RLX Technology from a "sell" rating to a "hold" rating in a research note on Saturday, September 19th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of RLX Technology in a report on Thursday, October 15th. Two equities research analysts have rated the stock with a Hold rating. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $2.50.

RLX Technology Trading Down 1.5%

The firm has a 50 day moving average price of $1.74 and a 200-day moving average price of $2.04. The firm has a market cap of $2.49 billion, a price-to-earnings ratio of 15.28 and a beta of 1.14.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Headlands Technologies LLC boosted its holdings in shares of RLX Technology by 26.0% during the second quarter. Headlands Technologies LLC now owns 69,479 shares of the company's stock worth $132,000 after purchasing an additional 14,350 shares during the last quarter. Dimensional Fund Advisors LP purchased a new position in RLX Technology in the first quarter valued at about $32,000. Engineers Gate Manager LP acquired a new position in RLX Technology during the 2nd quarter worth approximately $71,000. WINTON GROUP Ltd lifted its position in shares of RLX Technology by 177.7% during the second quarter. WINTON GROUP Ltd now owns 117,910 shares of the company's stock worth $224,000 after purchasing an additional 75,443 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in RLX Technology in the 1st quarter worth $567,000. 22.68% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.