RLX Technology (NYSE:RLX) Lowered to “Sell” Rating by Wall Street Zen

Wall Street Zen downgraded shares of RLX Technology (NYSE:RLX) from a hold rating to a sell rating in a report published on Saturday morning.

Separately, Weiss Ratings reissued 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 company presently has a consensus rating of “Hold” and a consensus price target of $2.50.

RLX Technology Price Performance

Shares of NYSE RLX opened at $1.81 on Friday. The stock has a market cap of $2.80 billion, a PE ratio of 17.24 and a beta of 1.20. RLX Technology has a 1 year low of $1.76 and a 1 year high of $2.84. The firm has a fifty day moving average price of $1.95 and a 200-day moving average price of $2.11.

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

Institutional Investors Weigh In On RLX Technology

A number of institutional investors have recently added to or reduced their stakes in the stock. OLP CAPITAL MANAGEMENT Ltd bought a new stake in shares of RLX Technology during the first quarter valued at approximately $29,013,000. Pictet Asset Management Holding SA boosted its position in shares of RLX Technology by 1,517.6% during the first 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. Mackenzie Financial Corp bought a new position in shares of RLX Technology during the third quarter worth $7,900,000. Mariner LLC boosted its position in shares of RLX Technology by 7,564.1% during the third quarter. Mariner LLC now owns 1,668,476 shares of the company’s stock worth $4,388,000 after acquiring an additional 1,646,706 shares during the last quarter. Finally, Capitolis Liquid Global Markets LLC purchased a new position in RLX Technology during the fourth quarter valued at $3,519,000. 22.68% of the stock is 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.