RLX Technology (NYSE:RLX) Sees Large Volume Increase – What’s Next?

Shares of RLX Technology Inc. Sponsored ADR (NYSE:RLX) saw strong trading volume on Monday . 2,720,818 shares traded hands during trading, an increase of 13% from the previous session’s volume of 2,415,001 shares.The stock last traded at $2.3350 and had previously closed at $2.25.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on RLX. Wall Street Zen cut RLX Technology from a “hold” rating to a “sell” rating in a research report on Sunday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of RLX Technology in a report on Thursday, January 22nd. Finally, Citigroup reduced their price objective on shares of RLX Technology from $2.60 to $2.50 and set a “neutral” rating on the stock in a research report on Monday. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, RLX Technology currently has an average rating of “Hold” and an average price target of $2.50.

RLX Technology Stock Performance

The firm has a market cap of $3.68 billion, a P/E ratio of 26.06 and a beta of 1.11. The firm’s fifty day simple moving average is $2.33 and its 200 day simple moving average is $2.40.

RLX Technology (NYSE:RLX) last issued its earnings results on Friday, March 13th. The company reported $0.03 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.03. RLX Technology had a return on equity of 5.74% and a net margin of 23.27%.The firm had revenue of $163.13 million for the quarter, compared to analysts’ expectations of $152.06 million.

RLX Technology declared that its board has approved a share repurchase plan on Wednesday, December 31st that permits the company to buyback $0.00 in shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On RLX Technology

A number of hedge funds have recently bought and sold shares of the business. Schonfeld Strategic Advisors LLC purchased a new position in shares of RLX Technology in the 4th quarter worth $26,000. Insigneo Advisory Services LLC bought a new position in shares of RLX Technology in the 4th quarter valued at about $29,000. AXQ Capital LP purchased a new position in RLX Technology in the fourth quarter worth about $30,000. SmartHarvest Portfolios LLC purchased a new position in RLX Technology in the fourth quarter worth about $40,000. Finally, BNP Paribas Financial Markets bought a new stake in RLX Technology during the third quarter worth approximately $60,000. 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.