RLX Technology (NYSE:RLX) Upgraded at Wall Street Zen

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

Separately, Citigroup decreased their target price on 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

RLX stock traded up $0.01 during midday trading on Friday, reaching $2.21. The company had a trading volume of 1,618,423 shares, compared to its average volume of 4,846,193. RLX Technology has a 1-year low of $1.50 and a 1-year high of $2.69. The stock has a 50 day moving average price of $1.93 and a 200-day moving average price of $2.06. The company has a market capitalization of $3.46 billion, a price-to-earnings ratio of 36.76 and a beta of 1.07.

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). RLX Technology had a net margin of 21.38% and a return on equity of 4.05%. 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 hedge funds and other institutional investors have recently made changes to their positions in the company. First Beijing Investment Ltd grew its holdings in shares of RLX Technology by 75.6% during the first quarter. First Beijing Investment Ltd now owns 41,036,045 shares of the company's stock worth $77,148,000 after purchasing an additional 17,661,160 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of RLX Technology by 0.6% during the first quarter. Vanguard Group Inc. now owns 27,935,598 shares of the company's stock worth $52,519,000 after purchasing an additional 156,350 shares during the last quarter. BRIGHT VALLEY CAPITAL Ltd grew its holdings in shares of RLX Technology by 7.5% during 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. Barclays PLC grew its holdings 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 worth $12,282,000 after purchasing an additional 5,575,962 shares during the last quarter. Finally, Oasis Management Co Ltd. grew its holdings in shares of RLX Technology by 9.5% during the fourth quarter. Oasis Management Co Ltd. now owns 5,592,665 shares of the company's stock worth $12,080,000 after purchasing an additional 484,542 shares during the last quarter. 22.68% of the stock is currently 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.