Renaissance Technologies LLC Takes $1.98 Million Position in RLX Technology Inc. Sponsored ADR $RLX

Renaissance Technologies LLC purchased a new stake in shares of RLX Technology Inc. Sponsored ADR (NYSE:RLX) during the 1st quarter, Holdings Channel reports. The fund purchased 898,360 shares of the company’s stock, valued at approximately $1,976,000.

A number of other institutional investors also recently bought and sold shares of the stock. Perseverance Asset Management International boosted its stake in RLX Technology by 4.4% during the fourth quarter. Perseverance Asset Management International now owns 7,790,928 shares of the company’s stock worth $18,153,000 after buying an additional 325,361 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of RLX Technology in the first quarter valued at $567,000. Pictet Asset Management Holding SA lifted its holdings in shares of RLX Technology by 1,517.6% in the 1st quarter. Pictet Asset Management Holding SA now owns 3,752,344 shares of the company’s stock worth $8,255,000 after acquiring an additional 3,520,377 shares during the last quarter. UBS Group AG lifted its holdings in shares of RLX Technology by 59.7% in the 4th quarter. UBS Group AG now owns 1,794,749 shares of the company’s stock worth $4,182,000 after acquiring an additional 670,848 shares during the last quarter. Finally, Dimensional Fund Advisors LP bought a new stake in shares of RLX Technology in the 1st quarter worth about $32,000. 22.68% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of RLX Technology in a report on Friday, July 17th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $2.50.

RLX Technology Stock Performance

Shares of NYSE RLX opened at $1.99 on Wednesday. RLX Technology Inc. Sponsored ADR has a fifty-two week low of $1.76 and a fifty-two week high of $2.84. The company has a market cap of $3.07 billion, a price-to-earnings ratio of 19.85 and a beta of 1.20. The business’s 50 day moving average price is $1.97 and its 200-day moving average price is $2.14.

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

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.