RLX Technology Inc. Sponsored ADR $RLX Position Cut by Perseverance Asset Management International

Perseverance Asset Management International reduced its holdings in RLX Technology Inc. Sponsored ADR (NYSE:RLX) by 3.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,495,862 shares of the company’s stock after selling 295,066 shares during the quarter. RLX Technology accounts for 1.8% of Perseverance Asset Management International’s portfolio, making the stock its 13th largest position. Perseverance Asset Management International owned about 0.48% of RLX Technology worth $16,491,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Schonfeld Strategic Advisors LLC bought a new position in shares of RLX Technology in the fourth quarter worth $26,000. Insigneo Advisory Services LLC bought a new stake in shares of RLX Technology during the fourth quarter valued at about $29,000. AXQ Capital LP bought a new stake in shares of RLX Technology during the fourth quarter valued at about $30,000. Dimensional Fund Advisors LP acquired a new stake in RLX Technology in the first quarter worth about $32,000. Finally, SmartHarvest Portfolios LLC acquired a new stake in RLX Technology in the fourth quarter worth about $40,000. Institutional investors own 22.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on RLX. Weiss Ratings reiterated a “hold (c)” rating on shares of RLX Technology in a research report on Friday, July 17th. Wall Street Zen upgraded shares of RLX Technology from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. 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 a consensus target price of $2.50.

RLX Technology Price Performance

RLX stock opened at $2.02 on Friday. The firm has a market cap of $3.14 billion, a PE ratio of 20.25 and a beta of 1.16. RLX Technology Inc. Sponsored ADR has a 12 month low of $1.76 and a 12 month high of $2.84. The firm has a 50 day simple moving average of $1.99 and a 200 day simple moving average of $2.16.

RLX Technology (NYSE:RLX) last posted its quarterly earnings results on Wednesday, May 20th. The company reported $0.03 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.03. RLX Technology had a net margin of 20.76% and a return on equity of 6.15%. The firm had revenue of $230.01 million for the quarter, compared to analyst estimates of $166.99 million.

RLX Technology 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.