RLX Technology (NYSE:RLX) Raised to “Hold” at Wall Street Zen

RLX Technology (NYSE:RLX) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of RLX Technology in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $2.25.

RLX Technology Stock Performance

Shares of RLX stock opened at $2.28 on Friday. The stock’s 50-day moving average is $2.39 and its two-hundred day moving average is $2.37. RLX Technology has a 1 year low of $1.66 and a 1 year high of $2.84. The firm has a market cap of $3.57 billion, a price-to-earnings ratio of 32.50 and a beta of 1.09.

RLX Technology (NYSE:RLX) last posted its earnings results on Friday, November 14th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.01). The firm had revenue of $158.63 million during the quarter, compared to analysts’ expectations of $139.99 million. RLX Technology had a net margin of 21.05% and a return on equity of 4.74%.

Hedge Funds Weigh In On RLX Technology

A number of large investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of RLX Technology by 10.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 866,827 shares of the company’s stock valued at $1,630,000 after acquiring an additional 82,413 shares in the last quarter. Invesco Ltd. lifted its position in RLX Technology by 2.2% in the first quarter. Invesco Ltd. now owns 590,243 shares of the company’s stock valued at $1,110,000 after purchasing an additional 12,834 shares during the period. Nuveen LLC purchased a new stake in RLX Technology in the 1st quarter valued at approximately $597,000. Russell Investments Group Ltd. increased its position in RLX Technology by 116.8% during the 1st quarter. Russell Investments Group Ltd. now owns 150,038 shares of the company’s stock worth $282,000 after purchasing an additional 80,821 shares during the period. Finally, Canada Pension Plan Investment Board increased its position in RLX Technology by 49,495,580.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 2,474,784 shares of the company’s stock worth $4,653,000 after purchasing an additional 2,474,779 shares during the period. Hedge funds and other institutional investors own 22.68% of the company’s stock.

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.