RLX Technology Inc. Sponsored ADR (NYSE:RLX) Short Interest Update

RLX Technology Inc. Sponsored ADR (NYSE:RLX) was the recipient of a significant growth in short interest in the month of February. As of February 13th, there was short interest totaling 5,089,698 shares, a growth of 29.7% from the January 29th total of 3,925,665 shares. Based on an average daily volume of 2,576,757 shares, the days-to-cover ratio is currently 2.0 days. Approximately 0.7% of the company’s shares are sold short. Approximately 0.7% of the company’s shares are sold short. Based on an average daily volume of 2,576,757 shares, the days-to-cover ratio is currently 2.0 days.

RLX Technology Stock Up 2.2%

Shares of RLX traded up $0.05 during trading on Wednesday, reaching $2.33. 1,961,848 shares of the company traded hands, compared to its average volume of 2,193,629. The stock has a 50-day simple moving average of $2.33 and a 200-day simple moving average of $2.40. The stock has a market cap of $3.66 billion, a PE ratio of 33.29 and a beta of 1.11. RLX Technology has a twelve month low of $1.66 and a twelve month high of $2.84.

RLX Technology announced that its Board of Directors has authorized a share buyback plan on Wednesday, December 31st that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On RLX Technology

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Mackenzie Financial Corp acquired a new stake in shares of RLX Technology during the third quarter worth about $7,900,000. Mariner LLC increased its stake in RLX Technology by 7,564.1% during the 3rd quarter. Mariner LLC now owns 1,668,476 shares of the company’s stock worth $4,388,000 after buying an additional 1,646,706 shares during the period. Capitolis Liquid Global Markets LLC purchased a new stake in RLX Technology during the 4th quarter worth approximately $3,519,000. Canada Pension Plan Investment Board lifted its holdings in RLX Technology by 53.7% during the 2nd 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 in the last quarter. Finally, Marshall Wace LLP boosted its position in RLX Technology by 82.4% in the 3rd quarter. Marshall Wace LLP now owns 2,067,228 shares of the company’s stock valued at $5,437,000 after buying an additional 934,135 shares during the period. 22.68% of the stock is currently owned by hedge funds and other 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.