RLX Technology Inc. Sponsored ADR (NYSE:RLX) Short Interest Down 19.4% in March

Key Points

• Short interest down 19.4% — short interest fell to 3,921,300 shares as of March 31 (0.5% of shares sold short) with a days-to-cover ratio of 1.2.
• Analyst consensus: Hold — two analysts rate RLX as a "Hold" and the consensus target price is $2.50, with Citigroup lowering its target to $2.50.
• Recent fundamentals: RLX traded around $2.19 with a $3.43 billion market cap and P/E of 24.28, and last quarter reported $0.03 EPS on $163.13 million in revenue with a 23.3% net margin.

RLX Technology Inc. Sponsored ADR (NYSE:RLX - Get Free Report) saw a significant decline in short interest in March. As of March 31st, there was short interest totaling 3,921,300 shares, a decline of 19.4% from the March 15th total of 4,865,788 shares. Currently, 0.5% of the shares of the stock are sold short. Based on an average daily volume of 3,323,379 shares, the days-to-cover ratio is currently 1.2 days.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Weiss Ratings restated a "hold (c)" rating on shares of RLX Technology in a research note on Thursday, January 22nd. Citigroup lowered their target price on RLX Technology from $2.60 to $2.50 and set a "neutral" rating for the company in a research note on Monday, March 16th. Finally, Wall Street Zen upgraded RLX Technology from a "sell" rating to a "hold" rating in a research note on Saturday, March 28th. Two analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $2.50.

RLX Technology Stock Performance

RLX traded up $0.03 during mid-day trading on Thursday, reaching $2.19. The stock had a trading volume of 1,238,260 shares, compared to its average volume of 2,212,273. The stock has a market capitalization of $3.43 billion, a P/E ratio of 24.28 and a beta of 1.24. The firm's fifty day simple moving average is $2.27 and its two-hundred day simple moving average is $2.34. RLX Technology has a 52 week low of $1.67 and a 52 week high of $2.84.

RLX Technology (NYSE:RLX - Get Free Report) last announced its quarterly earnings data on Saturday, February 14th. The company reported $0.03 EPS for the quarter. The firm had revenue of $163.13 million for the quarter. RLX Technology had a return on equity of 5.74% and a net margin of 23.27%.

RLX Technology declared that its Board of Directors has approved a share buyback plan on Wednesday, December 31st that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its shares are undervalued.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Schonfeld Strategic Advisors LLC bought a new position in shares of RLX Technology in the 4th quarter worth $26,000. Insigneo Advisory Services LLC bought a new position in shares of RLX Technology in the 4th quarter worth $29,000. AXQ Capital LP bought a new position in shares of RLX Technology in the 4th quarter worth $30,000. SmartHarvest Portfolios LLC bought a new position in shares of RLX Technology in the 4th quarter worth $40,000. Finally, BNP Paribas Financial Markets bought a new position in shares of RLX Technology in the 3rd quarter worth $60,000. 22.68% of the stock is currently owned by institutional investors.

RLX Technology Company Profile

RLX Technology Inc NYSE: RLX is a China-based company specializing in electronic nicotine delivery systems. The company develops, manufactures and markets closed-pod vaping devices and prefilled cartridges, positioning its products as an alternative to traditional combustible tobacco. RLX emphasizes consistent nicotine delivery, flavor variety and convenience through its proprietary e-liquid formulations and device design.

RLX operates a vertically integrated business model that encompasses research and development, production, quality control and sales.

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.