RLX Technology (NYSE:RLX) Stock Jumps 0.9% – Here’s Why

RLX Technology Inc. Sponsored ADR (NYSE:RLX)’s stock price traded up 0.9% during trading on Monday. The company traded as high as $1.72 and last traded at $1.7150. Approximately 1,172,544 shares traded hands during trading, a decline of 34% from the average session volume of 1,774,685 shares. The stock had previously closed at $1.70.

Wall Street Analyst Weigh In

RLX has been the subject of several research reports. Wall Street Zen upgraded shares of RLX Technology from a “sell” rating to a “hold” rating in a research report on Saturday, September 19th. Weiss Ratings reiterated a “hold (c)” rating on shares of RLX Technology in a research report on Thursday, October 15th. Two research analysts have rated the stock with a Hold rating. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $2.50.

RLX Technology Stock Performance

The stock has a market capitalization of $2.61 billion, a P/E ratio of 16.05 and a beta of 1.14. The stock has a 50-day simple moving average of $1.77 and a 200 day simple moving average of $1.95.

RLX Technology (NYSE:RLX) last released its earnings results on Friday, August 14th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.06). RLX Technology had a net margin of 20.24% and a return on equity of 6.20%. The firm had revenue of $148.73 million during the quarter, compared to analyst estimates of $173.99 million.

Institutional Trading of RLX Technology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RLX. Assenagon Asset Management S.A. boosted its stake in shares of RLX Technology by 105.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,495,059 shares of the company’s stock valued at $2,542,000 after purchasing an additional 767,549 shares during the last quarter. WINTON GROUP Ltd grew its position in shares of RLX Technology by 177.7% during the 2nd quarter. WINTON GROUP Ltd now owns 117,910 shares of the company’s stock worth $224,000 after buying an additional 75,443 shares during the period. Engineers Gate Manager LP acquired a new stake in shares of RLX Technology during the 2nd quarter worth approximately $71,000. Headlands Technologies LLC raised its stake in shares of RLX Technology by 26.0% during the second quarter. Headlands Technologies LLC now owns 69,479 shares of the company’s stock worth $132,000 after buying an additional 14,350 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of RLX Technology during the second quarter worth approximately $674,000. 22.68% of the stock is currently owned by institutional investors and hedge funds.

RLX Technology Company Profile

RLX Technology Inc is a China-based consumer technology company focused on the design, development and sale of vaping products. The company operates primarily through its RELX brand, which offers electronic vaporizer devices, replacement pods and related accessories in a variety of flavors and formats.

Founded in 2018 and headquartered in Beijing, RLX Technology has developed capabilities spanning product research and development, atomization technology, manufacturing, marketing and distribution.