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

Key Points

• Wall Street Zen upgraded RLX Technology from "sell" to "hold" and Weiss Ratings reissued a "hold (c)," leaving the stock with a consensus Hold rating and a consensus price target of $2.25.
• The stock opened at $2.24, has a market capitalization of $3.52 billion and a P/E of 32, with 50- and 200-day SMAs near $2.33 and $2.40 respectively; the company also announced a board-approved share buyback plan (the filing lists a $0.00 repurchase authorization).

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

Separately, Weiss Ratings reissued a "hold (c)" rating on shares of RLX Technology in a report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, RLX Technology currently has an average rating of "Hold" and a consensus price target of $2.25.

RLX Technology Stock Performance

RLX Technology stock opened at $2.24 on Friday. The stock has a 50-day simple moving average of $2.33 and a 200 day simple moving average of $2.40. The stock has a market capitalization of $3.52 billion, a P/E ratio of 32.00 and a beta of 1.11. RLX Technology has a 52 week low of $1.66 and a 52 week high of $2.84.

RLX Technology declared that its Board of Directors has approved a share buyback plan on Wednesday, December 31st that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company's board believes its shares are undervalued.

Institutional Investors Weigh In On RLX Technology

Hedge funds have recently bought and sold shares of the stock. Schonfeld Strategic Advisors LLC acquired a new position in shares of RLX Technology in the fourth quarter valued at approximately $26,000. Insigneo Advisory Services LLC acquired a new stake in RLX Technology during the 4th quarter worth approximately $29,000. AXQ Capital LP acquired a new stake in RLX Technology during the 4th quarter worth approximately $30,000. SmartHarvest Portfolios LLC bought a new stake in RLX Technology in the 4th quarter valued at $40,000. Finally, BNP Paribas Financial Markets acquired a new position in RLX Technology in the 3rd quarter valued at $60,000. 22.68% of the stock is currently 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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