RLX Technology (NYSE:RLX) Stock Price Down 3.3% - What's Next?

Key Points

• RLX Technology's stock price declined by 3.3% on Friday, trading at $2.52 with a significant drop in trading volume, falling by 96% from the average session volume.
• The company reported a Q2 EPS of $0.02, missing analysts' estimates of $0.18, and its revenue stood at $122.88 million, well below the estimated $725 million.
• Recent analyst ratings indicate a consensus of "Hold" with a target price of $2.25, following upgrades and downgrades by various research firms.

RLX Technology Inc. Sponsored ADR (NYSE:RLX - Get Free Report)'s share price traded down 3.3% on Friday . The company traded as low as $2.52 and last traded at $2.52. 177,609 shares changed hands during mid-day trading, a decline of 96% from the average session volume of 4,518,814 shares. The stock had previously closed at $2.60.

Analyst Upgrades and Downgrades

RLX has been the subject of several recent research reports. Wall Street Zen upgraded shares of RLX Technology from a "sell" rating to a "hold" rating in a research note on Saturday, August 30th. Weiss Ratings reissued a "hold (c)" rating on shares of RLX Technology in a research note on Saturday, September 27th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $2.25.

RLX Technology Stock Performance

The firm has a market capitalization of $3.97 billion, a price-to-earnings ratio of 36.08 and a beta of 1.10. The business has a fifty day moving average price of $2.42 and a 200 day moving average price of $2.16.

RLX Technology (NYSE:RLX - Get Free Report) last released its quarterly earnings data on Friday, August 22nd. The company reported $0.02 EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.16). RLX Technology had a return on equity of 4.54% and a net margin of 22.32%.The firm had revenue of $122.88 million for the quarter, compared to analyst estimates of $725.00 million.

RLX Technology Dividend Announcement

The business also recently declared an annual dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were issued a $0.01 dividend. This represents a yield of 38.0%. The ex-dividend date was Friday, September 12th. RLX Technology's dividend payout ratio is currently 14.29%.

Institutional Trading of RLX Technology

Several large investors have recently added to or reduced their stakes in the stock. First Beijing Investment Ltd boosted its position 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 during the last quarter. Vanguard Group Inc. grew its holdings in RLX Technology by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 27,935,598 shares of the company's stock worth $52,519,000 after acquiring an additional 156,350 shares in the last quarter. BRIGHT VALLEY CAPITAL Ltd increased its position in shares of RLX Technology by 7.5% in the 1st 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. Nomura Holdings Inc. raised its stake in shares of 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 purchasing an additional 1,954,316 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in shares of RLX Technology by 53.7% during the second quarter. Canada Pension Plan Investment Board now owns 3,804,284 shares of the company's stock worth $8,407,000 after purchasing an additional 1,329,500 shares during 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.

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