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

RLX Technology Inc. Sponsored ADR (NYSE:RLX) saw a significant decline in short interest during the month of January. As of January 30th, there was short interest totaling 3,925,665 shares, a decline of 19.7% from the January 15th total of 4,888,851 shares. Based on an average trading volume of 2,706,177 shares, the days-to-cover ratio is currently 1.5 days. Approximately 0.5% of the company’s stock are sold short. Approximately 0.5% of the company’s stock are sold short. Based on an average trading volume of 2,706,177 shares, the days-to-cover ratio is currently 1.5 days.

RLX Technology Stock Performance

RLX opened at $2.37 on Friday. RLX Technology has a one year low of $1.66 and a one year high of $2.84. The stock has a market capitalization of $3.71 billion, a P/E ratio of 33.79 and a beta of 1.10. The business’s 50-day simple moving average is $2.33 and its 200-day simple moving average is $2.39.

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

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 buy shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On RLX Technology

A number of institutional investors have recently modified their holdings of the business. Insigneo Advisory Services LLC acquired a new stake in RLX Technology during the 4th quarter worth $29,000. AXQ Capital LP acquired a new stake in shares of RLX Technology during the fourth quarter worth about $30,000. SmartHarvest Portfolios LLC purchased a new position in shares of RLX Technology during the fourth quarter worth about $40,000. BNP Paribas Financial Markets acquired a new position in RLX Technology in the 3rd quarter valued at about $60,000. Finally, Cresset Asset Management LLC purchased a new stake in RLX Technology during the 3rd quarter valued at approximately $66,000. 22.68% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have commented on RLX. Weiss Ratings reissued a “hold (c)” rating on shares of RLX Technology in a research report on Thursday, January 22nd. Wall Street Zen lowered RLX Technology from a “hold” rating to a “sell” rating in a report on Tuesday, January 20th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $2.25.

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.