RLX Technology (NYSE:RLX) Stock Price Down 3.5% - Here's What Happened

RLX Technology Inc. (NYSE:RLX - Get Free Report)'s stock price dropped 3.5% on Friday . The stock traded as low as $2.08 and last traded at $2.08. Approximately 1,347,002 shares traded hands during trading, a decline of 72% from the average daily volume of 4,780,919 shares. The stock had previously closed at $2.15.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Wall Street Zen downgraded shares of RLX Technology from a "hold" rating to a "sell" rating in a report on Saturday, May 24th. Citigroup dropped their price target on RLX Technology from $2.50 to $2.25 and set a "neutral" rating on the stock in a research note on Monday, May 19th.

RLX Technology Price Performance

The firm has a market cap of $3.29 billion, a price-to-earnings ratio of 52.39 and a beta of 1.07. The stock's fifty day moving average price is $1.87 and its 200-day moving average price is $2.04.

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

Institutional Trading of RLX Technology

Hedge funds have recently made changes to their positions in the stock. Mariner LLC increased its stake in RLX Technology by 0.3% in the 4th quarter. Mariner LLC now owns 1,671,840 shares of the company's stock valued at $3,611,000 after buying an additional 4,987 shares during the period. Bank of America Corp DE grew its holdings in shares of RLX Technology by 6.0% during the 4th quarter. Bank of America Corp DE now owns 166,949 shares of the company's stock valued at $361,000 after acquiring an additional 9,512 shares in the last quarter. Marshall Wace LLP increased its stake in shares of RLX Technology by 3.9% in the fourth quarter. Marshall Wace LLP now owns 267,606 shares of the company's stock worth $578,000 after acquiring an additional 10,071 shares during the last quarter. Invesco Ltd. increased its stake in shares of RLX Technology by 2.2% in the first quarter. Invesco Ltd. now owns 590,243 shares of the company's stock worth $1,110,000 after acquiring an additional 12,834 shares during the last quarter. Finally, Janney Montgomery Scott LLC purchased a new stake in shares of RLX Technology during the fourth quarter worth $31,000. 22.68% of the stock is owned by hedge funds and other 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.

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