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

Wall Street Zen upgraded shares of RLX Technology (NYSE:RLX - Free Report) from a sell rating to a hold rating in a research report report published on Saturday.

Separately, Citigroup decreased 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 report on Monday, May 19th.

RLX Technology Stock Down 0.6%

RLX stock traded down $0.02 during trading on Friday, hitting $2.35. The company had a trading volume of 1,029,611 shares, compared to its average volume of 4,962,373. The firm has a market capitalization of $3.68 billion, a P/E ratio of 39.09 and a beta of 1.08. RLX Technology has a 52-week low of $1.50 and a 52-week high of $2.69. The company has a 50 day simple moving average of $2.11 and a 200-day simple moving average of $2.10.

RLX Technology (NYSE:RLX - Get Free Report) last released its earnings results on Friday, May 16th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.17 by ($0.15). The business had revenue of $111.35 million for 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%.

Institutional Investors Weigh In On RLX Technology

Institutional investors have recently made changes to their positions in the company. Barclays PLC increased its stake 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 purchasing an additional 5,575,962 shares in the last quarter. Two Sigma Investments LP grew its stake in RLX Technology by 1,127.4% in the fourth quarter. Two Sigma Investments LP now owns 1,158,917 shares of the company's stock valued at $2,503,000 after purchasing an additional 1,064,500 shares in the last quarter. BRIGHT VALLEY CAPITAL Ltd bought a new position in RLX Technology in the fourth quarter valued at approximately $19,297,000. Northern Trust Corp grew its stake in RLX Technology by 56.6% in the fourth quarter. Northern Trust Corp now owns 862,499 shares of the company's stock valued at $1,863,000 after purchasing an additional 311,869 shares in the last quarter. Finally, Millennium Management LLC grew its stake in RLX Technology by 40.1% in the fourth quarter. Millennium Management LLC now owns 3,459,960 shares of the company's stock valued at $7,474,000 after purchasing an additional 991,100 shares in the last quarter. 22.68% of the stock is currently 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.