RLX Technology Inc. Sponsored ADR (NYSE:RLX) Short Interest Update

Key Points

• RLX Technology reported a 36.1% drop in short interest in August, bringing the total down to 8,010,000 shares, which represents only 1.0% of the company's shares sold short.
• The company missed earnings expectations, reporting $0.02 earnings per share versus the expected $0.18, with revenue significantly below projections at $122.88 million instead of $725 million.
• RLX Technology announced an annual dividend of $0.01 per share, with a yield of 70.0%, set to be paid on September 26th to stockholders of record by September 12th.

RLX Technology Inc. Sponsored ADR (NYSE:RLX - Get Free Report) saw a large drop in short interest in August. As of August 15th, there was short interest totaling 8,010,000 shares, adropof36.1% from the July 31st total of 12,530,000 shares. Currently,1.0% of the shares of the company are sold short. Based on an average daily volume of 3,350,000 shares, the short-interest ratio is currently 2.4 days. Based on an average daily volume of 3,350,000 shares, the short-interest ratio is currently 2.4 days. Currently,1.0% of the shares of the company are sold short.

RLX Technology Trading Up 1.8%

RLX opened at $2.61 on Friday. RLX Technology has a 12-month low of $1.57 and a 12-month high of $2.69. The firm has a market capitalization of $4.09 billion, a PE ratio of 37.22 and a beta of 1.10. The firm has a 50 day moving average of $2.31 and a two-hundred day moving average of $2.12.

RLX Technology (NYSE:RLX - Get Free Report) last posted its earnings results on Friday, August 22nd. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.16). The firm had revenue of $122.88 million for the quarter, compared to analysts' expectations of $725.00 million. RLX Technology had a net margin of 22.32% and a return on equity of 4.54%.

RLX Technology Announces Dividend

The company also recently announced an annual dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be issued a dividend of $0.01 per share. This represents a dividend yield of 70.0%. The ex-dividend date of this dividend is Friday, September 12th. RLX Technology's payout ratio is 14.29%.

Hedge Funds Weigh In On RLX Technology

Several institutional investors have recently made changes to their positions in RLX. First Beijing Investment Ltd increased its holdings in shares of RLX Technology by 75.6% during the 1st quarter. First Beijing Investment Ltd now owns 41,036,045 shares of the company's stock valued at $77,148,000 after purchasing an additional 17,661,160 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of RLX Technology by 49,495,580.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 2,474,784 shares of the company's stock valued at $4,653,000 after purchasing an additional 2,474,779 shares in the last quarter. Nomura Holdings Inc. increased its holdings in shares of RLX Technology by 54.3% during the 1st quarter. Nomura Holdings Inc. now owns 5,555,303 shares of the company's stock valued at $10,444,000 after purchasing an additional 1,954,316 shares in the last quarter. Man Group plc increased its holdings in shares of RLX Technology by 118.8% during the 4th quarter. Man Group plc now owns 3,165,638 shares of the company's stock valued at $6,838,000 after purchasing an additional 1,718,816 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. increased its holdings in shares of RLX Technology by 124.6% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 2,102,446 shares of the company's stock valued at $4,541,000 after purchasing an additional 1,166,409 shares in the last quarter. 22.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RLX has been the subject of a number of recent research reports. Wall Street Zen raised shares of RLX Technology from a "sell" rating to a "hold" rating in a research report on Saturday, August 30th. Citigroup reduced their price target on shares of RLX Technology from $2.50 to $2.25 and set a "neutral" rating for the company in a research report on Monday, May 19th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, RLX Technology currently has an average rating of "Hold" and an average target price of $2.25.

RLX Technology Company 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.

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