RLX Technology (NYSE:RLX) Reaches New 52-Week Low – Here’s Why

RLX Technology Inc. Sponsored ADR (NYSE:RLX)’s share price reached a new 52-week low on Tuesday . The stock traded as low as $1.96 and last traded at $1.9550, with a volume of 486286 shares trading hands. The stock had previously closed at $2.01.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Wall Street Zen raised shares of RLX Technology from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of RLX Technology in a report on Tuesday, April 21st. Finally, Citigroup decreased their price objective on shares of RLX Technology from $2.60 to $2.50 and set a “neutral” rating for the company in a report on Monday, March 16th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $2.50.

RLX Technology Trading Down 2.7%

The business’s fifty day simple moving average is $2.12 and its two-hundred day simple moving average is $2.25. The stock has a market capitalization of $3.03 billion, a P/E ratio of 19.55 and a beta of 1.13.

RLX Technology (NYSE:RLX) last issued its quarterly earnings results on Wednesday, May 20th. The company reported $0.03 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.03. RLX Technology had a net margin of 20.76% and a return on equity of 6.15%. The firm had revenue of $230.01 million during the quarter, compared to the consensus estimate of $166.99 million.

Institutional Trading of RLX Technology

Hedge funds have recently bought and sold shares of the stock. Schonfeld Strategic Advisors LLC bought a new stake in RLX Technology in the 4th quarter valued at $26,000. Insigneo Advisory Services LLC bought a new position in shares of RLX Technology during the 4th quarter worth about $29,000. AXQ Capital LP bought a new position in shares of RLX Technology during the 4th quarter worth about $30,000. Dimensional Fund Advisors LP bought a new position in shares of RLX Technology during the 1st quarter worth about $32,000. Finally, SmartHarvest Portfolios LLC bought a new position in shares of RLX Technology during the 4th quarter worth about $40,000. 22.68% of the stock is owned by institutional investors.

About RLX Technology

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.