RLX Technology (NYSE:RLX) Downgraded by Wall Street Zen to "Sell"

Wall Street Zen lowered shares of RLX Technology (NYSE:RLX - Free Report) from a hold rating to a sell rating in a report released on Friday.

Separately, Citigroup dropped their price target on RLX Technology from $2.50 to $2.25 and set a "neutral" rating for the company in a research note on Monday, May 19th.

RLX Technology Price Performance

NYSE RLX traded down $0.01 on Friday, reaching $2.21. 2,905,009 shares of the company's stock traded hands, compared to its average volume of 4,913,340. The stock has a market cap of $3.47 billion, a PE ratio of 37.00 and a beta of 1.07. RLX Technology has a 12 month low of $1.50 and a 12 month high of $2.69. The stock has a 50-day simple moving average of $2.00 and a 200 day simple moving average of $2.08.

RLX Technology (NYSE:RLX - Get Free Report) last announced its quarterly earnings results on Friday, May 16th. The company reported $0.02 EPS for the quarter, missing analysts' consensus estimates of $0.17 by ($0.15). RLX Technology had a return on equity of 4.05% and a net margin of 21.38%. The business had revenue of $111.35 million during the quarter, compared to analysts' expectations of $763.38 million.

Hedge Funds Weigh In On RLX Technology

A number of institutional investors have recently added to or reduced their stakes in the company. Boothbay Fund Management LLC bought a new position in shares of RLX Technology during the fourth quarter valued at $43,000. Ground Swell Capital LLC bought a new stake in RLX Technology in the 1st quarter worth about $47,000. Headlands Technologies LLC increased its holdings in RLX Technology by 411.8% in the 1st quarter. Headlands Technologies LLC now owns 25,766 shares of the company's stock worth $48,000 after buying an additional 20,732 shares in the last quarter. Bayesian Capital Management LP purchased a new position in RLX Technology in the fourth quarter worth about $82,000. Finally, Two Sigma Advisers LP boosted its position in RLX Technology by 192.7% in the fourth quarter. Two Sigma Advisers LP now owns 55,900 shares of the company's stock worth $121,000 after purchasing an additional 36,800 shares during the last quarter. Institutional investors own 22.68% of the company's stock.

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.