RLX Technology (NYSE:RLX) Sees Unusually-High Trading Volume – Should You Buy?

Shares of RLX Technology Inc. Sponsored ADR (NYSE:RLX) saw strong trading volume on Friday . 2,574,279 shares changed hands during trading, an increase of 1% from the previous session’s volume of 2,548,983 shares.The stock last traded at $1.7150 and had previously closed at $1.72.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on RLX. Wall Street Zen cut RLX Technology from a “hold” rating to a “sell” rating in a research note on Saturday, August 22nd. Weiss Ratings reissued a “hold (c)” rating on shares of RLX Technology in a research report on Friday, July 17th. Two 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 Stock Down 0.3%

The firm has a market capitalization of $2.66 billion, a PE ratio of 16.33 and a beta of 1.16. The stock has a 50-day moving average price of $1.90 and a 200 day moving average price of $2.03.

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

Hedge Funds Weigh In On RLX Technology

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. AXQ Capital LP acquired a new stake in shares of RLX Technology in the 4th quarter valued at $30,000. Dimensional Fund Advisors LP purchased a new stake in shares of RLX Technology in the 1st quarter worth about $32,000. Engineers Gate Manager LP acquired a new position in shares of RLX Technology during the 2nd quarter worth approximately $71,000. Headlands Technologies LLC boosted its stake in shares of RLX Technology by 26.0% during the second quarter. Headlands Technologies LLC now owns 69,479 shares of the company’s stock valued at $132,000 after acquiring an additional 14,350 shares during the last quarter. Finally, WINTON GROUP Ltd lifted its stake in shares of RLX Technology by 177.7% during the second quarter. WINTON GROUP Ltd now owns 117,910 shares of the company’s stock valued at $224,000 after buying an additional 75,443 shares during the period. 22.68% of the stock is owned by institutional investors and hedge funds.

RLX Technology Company Profile

RLX Technology, Inc is a China-based company that develops, manufactures, and sells vaping products under the RELX brand. Its product portfolio includes electronic vaporizer devices, refillable or pre-filled pod cartridges, atomizers, and related accessories designed for adult consumers.

Founded in 2018, the company has focused on building a closed-system vaping platform that combines proprietary hardware, e-liquid formulations, and pod-based products. RLX Technology has also invested in research and development, manufacturing capabilities, and retail distribution to support its product offerings.

The company primarily serves the Chinese market and has pursued international expansion through sales and distribution in selected overseas markets.