SG Americas Securities LLC Reduces Holdings in RLX Technology Inc. Sponsored ADR $RLX

SG Americas Securities LLC lowered its position in RLX Technology Inc. Sponsored ADR (NYSE:RLX) by 90.7% during the third quarter, HoldingsChannel reports. The firm owned 24,609 shares of the company’s stock after selling 239,298 shares during the period. SG Americas Securities LLC’s holdings in RLX Technology were worth $65,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RLX. Vanguard Personalized Indexing Management LLC raised its position in shares of RLX Technology by 73.8% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 40,168 shares of the company’s stock valued at $89,000 after buying an additional 17,060 shares during the last quarter. Public Employees Retirement System of Ohio grew its stake in RLX Technology by 9.2% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 323,016 shares of the company’s stock valued at $714,000 after acquiring an additional 27,263 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in RLX Technology by 308.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 54,064 shares of the company’s stock valued at $119,000 after acquiring an additional 40,819 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in RLX Technology in the 2nd quarter valued at about $99,000. Finally, Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in shares of RLX Technology during the 2nd quarter worth approximately $110,000. Institutional investors and hedge funds own 22.68% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on RLX. Wall Street Zen cut RLX Technology from a “hold” rating to a “sell” rating in a report on Tuesday, January 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of RLX Technology in a research note on Thursday, January 22nd. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, RLX Technology has an average rating of “Hold” and a consensus price target of $2.25.

RLX Technology Stock Performance

RLX stock opened at $2.31 on Friday. RLX Technology Inc. Sponsored ADR has a one year low of $1.66 and a one year high of $2.84. The firm has a market cap of $3.63 billion, a PE ratio of 33.00 and a beta of 1.10. The firm’s 50 day moving average price is $2.34 and its 200-day moving average price is $2.38.

RLX Technology (NYSE:RLX) last posted its earnings results on Friday, November 14th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.01). RLX Technology had a return on equity of 4.74% and a net margin of 21.05%.The business had revenue of $158.63 million for the quarter, compared to analyst estimates of $139.99 million.

RLX Technology Increases Dividend

The firm also recently disclosed an annual dividend, which will be paid on Monday, February 9th. Investors of record on Monday, January 26th will be given a dividend of $0.10 per share. This represents a dividend yield of 423.0%. The ex-dividend date of this dividend is Monday, January 26th. This is a positive change from RLX Technology’s previous annual dividend of $0.01. RLX Technology’s dividend payout ratio is 142.86%.

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

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.