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

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

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

RLX Technology Stock Down 1.6%

RLX Technology stock opened at $2.16 on Friday. The firm's 50-day simple moving average is $1.91 and its 200 day simple moving average is $2.06. RLX Technology has a 52 week low of $1.50 and a 52 week high of $2.69. The firm has a market capitalization of $3.39 billion, a PE ratio of 53.89 and a beta of 1.07.

RLX Technology (NYSE:RLX - Get Free Report) last posted its quarterly earnings data on Friday, May 16th. The company reported $0.02 EPS for the quarter, missing analysts' consensus estimates of $0.17 by ($0.15). The company had revenue of $111.35 million for the quarter, compared to analyst estimates of $763.38 million. RLX Technology had a net margin of 15.70% and a return on equity of 2.48%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of RLX Technology during the fourth quarter worth about $42,000. Boothbay Fund Management LLC bought a new stake in RLX Technology during the fourth quarter worth about $43,000. Ground Swell Capital LLC bought a new stake in RLX Technology during the first quarter worth about $47,000. Headlands Technologies LLC raised its holdings in RLX Technology by 411.8% during the first quarter. Headlands Technologies LLC now owns 25,766 shares of the company's stock worth $48,000 after acquiring an additional 20,732 shares in the last quarter. Finally, Bayesian Capital Management LP bought a new stake in RLX Technology in the fourth quarter valued at approximately $82,000. 22.68% of the stock is owned by institutional investors and hedge funds.

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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