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

RLX Technology (NYSE:RLX - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Saturday.

Separately, Citigroup cut their price target 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.

RLX Technology Trading Down 2.0%

Shares of NYSE RLX traded down $0.04 during trading hours on Friday, hitting $1.97. 4,779,402 shares of the company traded hands, compared to its average volume of 4,743,143. The company's 50 day moving average price is $1.86 and its 200 day moving average price is $2.02. RLX Technology has a 12 month low of $1.50 and a 12 month high of $2.69. The stock has a market capitalization of $3.09 billion, a price-to-earnings ratio of 49.26 and a beta of 1.03.

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

Institutional Investors Weigh In On RLX Technology

Institutional investors and hedge funds have recently modified their holdings of the business. First Beijing Investment Ltd grew its position in RLX Technology by 75.6% in the 1st quarter. First Beijing Investment Ltd now owns 41,036,045 shares of the company's stock valued at $77,148,000 after acquiring an additional 17,661,160 shares during the last quarter. Nomura Holdings Inc. boosted its stake in shares of RLX Technology by 54.3% during the first 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 during the period. Canada Pension Plan Investment Board boosted its stake in shares of RLX Technology by 49,495,580.0% during the first 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 during the period. BRIGHT VALLEY CAPITAL Ltd grew its holdings in shares of RLX Technology by 7.5% in the first quarter. BRIGHT VALLEY CAPITAL Ltd now owns 9,605,371 shares of the company's stock worth $18,058,000 after purchasing an additional 671,639 shares during the last quarter. Finally, Ground Swell Capital LLC purchased a new position in RLX Technology in the 1st quarter worth about $47,000. 22.68% of the stock is owned by institutional investors.

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.