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

Key Points

• Wall Street Zen downgraded RLX Technology to “Sell” from “Hold,” while Weiss Ratings maintained a “Hold” rating. Analysts’ consensus remains “Hold,” with an average price target of $2.50.
• RLX shares opened at $1.81, near their one-year low of $1.76, with the stock trading below both its 50-day and 200-day moving averages.
• The company’s latest quarterly results missed expectations: earnings were $0.03 per share versus $0.09 expected, while revenue of $148.73 million fell short of the $173.99 million forecast.

RLX Technology (NYSE:RLX - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Saturday.

Separately, Weiss Ratings reiterated a "hold (c)" rating on shares of RLX Technology in a research note on Friday, July 17th. Two analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $2.50.

RLX Technology Stock Performance

Shares of NYSE:RLX opened at $1.81 on Friday. The firm has a market cap of $2.80 billion, a PE ratio of 17.24 and a beta of 1.20. The firm's 50 day simple moving average is $1.95 and its 200-day simple moving average is $2.11. RLX Technology has a one year low of $1.76 and a one year high of $2.84.

RLX Technology (NYSE:RLX - Get Free Report) last announced its quarterly earnings results on Friday, August 14th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.06). The firm had revenue of $148.73 million for the quarter, compared to analysts' expectations of $173.99 million. RLX Technology had a net margin of 20.24% and a return on equity of 6.20%.

Institutional Trading of RLX Technology

A number of institutional investors have recently made changes to their positions in the company. Schonfeld Strategic Advisors LLC purchased a new position in RLX Technology during the fourth quarter worth approximately $26,000. Insigneo Advisory Services LLC purchased a new stake in RLX Technology in the 4th quarter valued at $29,000. AXQ Capital LP acquired a new stake in shares of RLX Technology in the 4th quarter worth $30,000. Dimensional Fund Advisors LP acquired a new stake in shares of RLX Technology in the 1st quarter worth $32,000. Finally, SmartHarvest Portfolios LLC purchased a new position in shares of RLX Technology during the 4th quarter worth $40,000. 22.68% of the stock is owned by institutional investors and hedge funds.

RLX Technology Company Profile

RLX Technology Inc NYSE: RLX is a China-based company specializing in electronic nicotine delivery systems. The company develops, manufactures and markets closed-pod vaping devices and prefilled cartridges, positioning its products as an alternative to traditional combustible tobacco. RLX emphasizes consistent nicotine delivery, flavor variety and convenience through its proprietary e-liquid formulations and device design.

RLX operates a vertically integrated business model that encompasses research and development, production, quality control and sales.

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