Cubist Systematic Strategies LLC Grows Position in RLX Technology Inc. (NYSE:RLX)

Cubist Systematic Strategies LLC raised its holdings in shares of RLX Technology Inc. (NYSE:RLX - Free Report) by 1,326.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 210,556 shares of the company's stock after purchasing an additional 195,794 shares during the quarter. Cubist Systematic Strategies LLC's holdings in RLX Technology were worth $455,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Janney Montgomery Scott LLC bought a new stake in shares of RLX Technology in the 4th quarter worth $31,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of RLX Technology in the 4th quarter worth $42,000. Boothbay Fund Management LLC bought a new stake in shares of RLX Technology in the 4th quarter worth $43,000. Catalina Capital Group LLC bought a new stake in shares of RLX Technology in the 4th quarter worth $63,000. Finally, Bayesian Capital Management LP bought a new stake in shares of RLX Technology in the 4th quarter worth $82,000. Institutional investors own 22.68% of the company's stock.

Analysts Set New Price Targets

Separately, Citigroup cut their price target on shares of RLX Technology from $2.50 to $2.25 and set a "neutral" rating on the stock in a report on Monday.

RLX Technology Trading Down 0.2%

Shares of NYSE:RLX traded down $0.01 during midday trading on Thursday, reaching $2.00. The company had a trading volume of 317,575 shares, compared to its average volume of 4,730,587. The company's 50 day moving average price is $1.86 and its 200 day moving average price is $2.01. The stock has a market cap of $3.13 billion, a P/E ratio of 49.89 and a beta of 1.03. RLX Technology Inc. has a 52-week low of $1.50 and a 52-week high of $2.69.

RLX Technology (NYSE:RLX - Get Free Report) last issued its quarterly earnings results on Friday, May 16th. The company reported $0.02 earnings per share for the quarter, missing analysts' consensus estimates of $0.17 by ($0.15). The company had revenue of $111.35 million during the quarter, compared to analysts' expectations of $763.38 million. RLX Technology had a return on equity of 2.48% and a net margin of 15.70%.

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 and internationally. It serves partner distributors and retail outlets. The company was founded in 2018 and is headquartered in Beijing, China.