RLX Technology's (RLX) Hold (C) Rating Reiterated at Weiss Ratings

RLX Technology (NYSE:RLX - Get Free Report)'s stock had its "hold (c)" rating reiterated by equities researchers at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Separately, Wall Street Zen upgraded shares of RLX Technology from a "sell" rating to a "hold" rating in a report on Saturday, August 30th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $2.25.

RLX Technology Stock Performance

NYSE:RLX opened at $2.38 on Wednesday. The firm's 50-day moving average is $2.43 and its 200-day moving average is $2.17. RLX Technology has a 52-week low of $1.57 and a 52-week high of $2.84. The company has a market cap of $3.74 billion, a price-to-earnings ratio of 34.00 and a beta of 1.10.

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

Institutional Trading of RLX Technology

Several large investors have recently added to or reduced their stakes in the company. First Beijing Investment Ltd grew its stake in RLX Technology by 75.6% during the first quarter. First Beijing Investment Ltd now owns 41,036,045 shares of the company's stock worth $77,148,000 after buying an additional 17,661,160 shares during the last quarter. Vanguard Group Inc. grew its stake in RLX Technology by 0.6% during the first quarter. Vanguard Group Inc. now owns 27,935,598 shares of the company's stock worth $52,519,000 after buying an additional 156,350 shares during the last quarter. BRIGHT VALLEY CAPITAL Ltd grew its stake in RLX Technology by 7.5% during the first quarter. BRIGHT VALLEY CAPITAL Ltd now owns 9,605,371 shares of the company's stock worth $18,058,000 after buying an additional 671,639 shares during the last quarter. Nomura Holdings Inc. grew its stake in RLX Technology by 54.3% during the first quarter. Nomura Holdings Inc. now owns 5,555,303 shares of the company's stock worth $10,444,000 after buying an additional 1,954,316 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its stake in 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 buying an additional 1,329,500 shares during the last quarter. 22.68% of the stock is owned by 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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