RLX Technology (NYSE:RLX) Sets New 1-Year High - Here's What Happened

Key Points

• RLX Technology Inc. shares reached a new 12-month high of $2.77, with a trading volume of 208,750 shares.
• The company reported a quarterly earnings miss with earnings per share of $0.02, significantly below the $0.18 consensus estimate, alongside a revenue of $122.88 million, far short of the $725 million expectation.
• RLX Technology announced a $0.01 annual dividend to be paid on September 26th, with a yield of 70.0% and a payout ratio of 14.29%.

Shares of RLX Technology Inc. Sponsored ADR (NYSE:RLX - Get Free Report) reached a new 52-week high on Monday . The company traded as high as $2.73 and last traded at $2.77, with a volume of 208750 shares traded. The stock had previously closed at $2.61.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on RLX. Wall Street Zen upgraded shares of RLX Technology from a "sell" rating to a "hold" rating in a research note on Saturday, August 30th. Citigroup cut their target price on shares of RLX Technology from $2.50 to $2.25 and set a "neutral" rating on the stock in a research note on Monday, May 19th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $2.25.

RLX Technology Stock Down 2.8%

The stock has a fifty day moving average of $2.34 and a 200-day moving average of $2.13. The stock has a market capitalization of $4.11 billion, a price-to-earnings ratio of 37.36 and a beta of 1.10.

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

RLX Technology Dividend Announcement

The firm also recently declared an annual dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be issued a $0.01 dividend. This represents a yield of 38.0%. The ex-dividend date of this dividend is Friday, September 12th.

Hedge Funds Weigh In On RLX Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RLX. First Beijing Investment Ltd boosted its holdings in RLX Technology by 75.6% in the first 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 boosted its holdings in shares of RLX Technology by 49,495,580.0% in 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 acquiring an additional 2,474,779 shares during the period. Nomura Holdings Inc. boosted its holdings in shares of RLX Technology by 54.3% in the first quarter. Nomura Holdings Inc. now owns 5,555,303 shares of the company's stock valued at $10,444,000 after acquiring an additional 1,954,316 shares during the period. Man Group plc boosted its holdings in shares of RLX Technology by 118.8% in the fourth quarter. Man Group plc now owns 3,165,638 shares of the company's stock valued at $6,838,000 after acquiring an additional 1,718,816 shares during the period. Finally, D. E. Shaw & Co. Inc. boosted its holdings in shares of RLX Technology by 124.6% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 2,102,446 shares of the company's stock valued at $4,541,000 after acquiring an additional 1,166,409 shares during the period. 22.68% of the stock is owned by institutional investors and hedge funds.

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.