Wall Street Zen Downgrades RLX Technology (NYSE:RLX) to Sell

RLX Technology (NYSE:RLX - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Saturday.

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

RLX Technology Price Performance

Shares of RLX traded up $0.03 during trading hours on Friday, reaching $2.02. 3,297,700 shares of the company's stock traded hands, compared to its average volume of 4,735,403. The firm has a market capitalization of $3.17 billion, a price-to-earnings ratio of 50.39 and a beta of 1.03. RLX Technology has a twelve month low of $1.50 and a twelve month high of $2.69. The business's fifty day simple moving average is $1.86 and its two-hundred day simple moving average is $2.03.

RLX Technology (NYSE:RLX - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $111.35 million during the quarter, compared to the consensus estimate of $763.38 million.

Institutional Trading of RLX Technology

Several institutional investors and hedge funds have recently bought and sold shares of the stock. First Beijing Investment Ltd raised its holdings in 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. Vanguard Group Inc. raised its holdings in RLX Technology by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 27,935,598 shares of the company's stock worth $52,519,000 after buying an additional 156,350 shares during the period. BRIGHT VALLEY CAPITAL Ltd raised its holdings in 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. Barclays PLC raised its holdings in RLX Technology by 5,047.4% during the 4th quarter. Barclays PLC now owns 5,686,433 shares of the company's stock worth $12,282,000 after buying an additional 5,575,962 shares during the period. Finally, Oasis Management Co Ltd. raised its holdings in RLX Technology by 9.5% during the 4th quarter. Oasis Management Co Ltd. now owns 5,592,665 shares of the company's stock worth $12,080,000 after buying an additional 484,542 shares during the period. Institutional investors and hedge funds own 22.68% of the company's stock.

About RLX Technology

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.