Wall Street Zen downgraded shares of RLX Technology (NYSE:RLX - Free Report) from a hold rating to a sell rating in a report published on Friday morning.
Separately, Citigroup dropped their target price on shares of RLX Technology from $2.50 to $2.25 and set a "neutral" rating on the stock in a report on Monday, May 19th.
Read Our Latest Research Report on RLX
RLX Technology Price Performance
RLX stock traded up $0.03 during midday trading on Friday, hitting $2.23. The company's stock had a trading volume of 3,212,895 shares, compared to its average volume of 4,905,912. RLX Technology has a twelve month low of $1.50 and a twelve month high of $2.69. The company's fifty day moving average price is $2.00 and its 200 day moving average price is $2.08. The stock has a market capitalization of $3.50 billion, a P/E ratio of 37.09 and a beta of 1.07.
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 (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.15). The business had revenue of $111.35 million during the quarter, compared to analyst estimates of $763.38 million. RLX Technology had a net margin of 21.38% and a return on equity of 4.05%.
Institutional Trading of RLX Technology
Several hedge funds and other institutional investors have recently modified their holdings of the stock. First Beijing Investment Ltd boosted 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 worth $77,148,000 after buying an additional 17,661,160 shares during the period. Nomura Holdings Inc. boosted 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 worth $10,444,000 after buying an additional 1,954,316 shares during the period. Canada Pension Plan Investment Board boosted 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 worth $4,653,000 after buying an additional 2,474,779 shares during the period. BRIGHT VALLEY CAPITAL Ltd boosted its holdings in shares of RLX Technology by 7.5% during the 1st quarter. BRIGHT VALLEY CAPITAL Ltd now owns 9,605,371 shares of the company's stock worth $18,058,000 after buying an additional 671,639 shares during the period. Finally, Ground Swell Capital LLC bought a new stake in shares of RLX Technology during the 1st quarter worth about $47,000. Institutional investors own 22.68% of the company's stock.
About RLX Technology
(
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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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