Cubist Systematic Strategies LLC Purchases 195,794 Shares of RLX Technology Inc. (NYSE:RLX)

Cubist Systematic Strategies LLC lifted its holdings in RLX Technology Inc. (NYSE:RLX - Free Report) by 1,326.3% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 210,556 shares of the company's stock after buying an additional 195,794 shares during the period. Cubist Systematic Strategies LLC's holdings in RLX Technology were worth $455,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RLX. Janney Montgomery Scott LLC bought a new stake in shares of RLX Technology in the fourth quarter valued at $31,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in RLX Technology in the 4th quarter valued at about $42,000. Boothbay Fund Management LLC purchased a new stake in RLX Technology during the fourth quarter valued at about $43,000. Catalina Capital Group LLC purchased a new stake in RLX Technology during the fourth quarter valued at about $63,000. Finally, Bayesian Capital Management LP bought a new position in RLX Technology during the fourth quarter worth about $82,000. Hedge funds and other institutional investors own 22.68% of the company's stock.

RLX Technology Stock Performance

RLX stock traded up $0.02 during midday trading on Tuesday, reaching $1.98. 3,096,725 shares of the company's stock traded hands, compared to its average volume of 4,757,478. The company has a 50-day moving average price of $1.87 and a two-hundred day moving average price of $2.01. RLX Technology Inc. has a 52 week low of $1.50 and a 52 week high of $2.69. The firm has a market capitalization of $3.11 billion, a PE ratio of 49.51 and a beta of 1.03.

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

Analyst Upgrades and Downgrades

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

RLX Technology 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.