RLX Technology (NYSE:RLX) Rating Lowered to Sell at Wall Street Zen

Key Points

• RLX Technology has been downgraded by Wall Street Zen from a "hold" rating to a "sell" rating, indicating a negative outlook from analysts.
• Citigroup reduced its price target for RLX Technology from $2.50 to $2.25 while maintaining a "neutral" rating, reflecting concerns about the company's financial performance.
• In its latest quarterly earnings report, RLX Technology missed expectations with an EPS of $0.02, significantly lower than the consensus estimate of $0.17.

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

Separately, Citigroup reduced their price objective 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 Price Performance

Shares of RLX stock opened at $2.13 on Friday. The company has a market cap of $3.35 billion, a price-to-earnings ratio of 35.51 and a beta of 1.09. The stock has a 50 day simple moving average of $2.23 and a 200-day simple moving average of $2.11. RLX Technology has a 1-year low of $1.57 and a 1-year high of $2.69.

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 the consensus estimate of $0.17 by ($0.15). RLX Technology had a net margin of 21.38% and a return on equity of 4.05%. The firm had revenue of $111.35 million during the quarter, compared to analyst estimates of $763.38 million.

Institutional Trading of RLX Technology

Several large investors have recently added to or reduced their stakes in RLX. First Beijing Investment Ltd grew its holdings in RLX Technology by 75.6% in the 1st quarter. First Beijing Investment Ltd now owns 41,036,045 shares of the company's stock valued at $77,148,000 after buying an additional 17,661,160 shares in the last quarter. BRIGHT VALLEY CAPITAL Ltd purchased a new stake in RLX Technology in the 4th quarter valued at $19,297,000. Barclays PLC grew its holdings in RLX Technology by 5,047.4% in the 4th 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 in the last quarter. Canada Pension Plan Investment Board grew its holdings in RLX Technology by 49,495,580.0% in the 1st 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 in the last quarter. Finally, Nomura Holdings Inc. grew its holdings in RLX Technology by 54.3% in the 1st 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 in the last quarter. 22.68% of the stock is currently owned by hedge funds and other institutional investors.

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.

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