RLX Technology (NYSE:RLX) Raised to Hold at Wall Street Zen

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

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

RLX Technology Stock Up 0.4%

Shares of NYSE:RLX opened at $2.27 on Friday. The stock has a market cap of $3.57 billion, a PE ratio of 37.84 and a beta of 1.08. The company's fifty day moving average is $2.10 and its 200 day moving average is $2.10. RLX Technology has a 52 week low of $1.50 and a 52 week high of $2.69.

RLX Technology (NYSE:RLX - Get Free Report) last released 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). The company had revenue of $111.35 million during the quarter, compared to analysts' expectations of $763.38 million. RLX Technology had a return on equity of 4.05% and a net margin of 21.38%.

Hedge Funds Weigh In On RLX Technology

A number of hedge funds have recently modified their holdings of the company. First Beijing Investment Ltd increased its position 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 valued at $77,148,000 after purchasing an additional 17,661,160 shares during the period. BRIGHT VALLEY CAPITAL Ltd purchased a new position in shares of RLX Technology during the fourth quarter valued at about $19,297,000. Barclays PLC increased its position in shares of RLX Technology by 5,047.4% during the fourth quarter. Barclays PLC now owns 5,686,433 shares of the company's stock valued at $12,282,000 after buying an additional 5,575,962 shares during the period. Canada Pension Plan Investment Board increased its position 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 buying an additional 2,474,779 shares during the period. Finally, Nomura Holdings Inc. increased its position 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 buying an additional 1,954,316 shares during the period. Hedge funds and other 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.

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