Shares of RLX Technology Inc. Sponsored ADR (NYSE:RLX – Get Free Report) reached a new 52-week low during trading on Monday. The stock traded as low as $1.58 and last traded at $1.5950, with a volume of 207,458 shares changing hands. The stock had previously closed at $1.61.
Analysts Set New Price Targets
A number of research analysts recently commented on RLX shares. Weiss Ratings reiterated a “hold (c)” rating on shares of RLX Technology in a report on Thursday, October 15th. Wall Street Zen cut RLX Technology from a “hold” rating to a “sell” rating in a research note on Saturday. Two research analysts have rated the stock with a Hold rating. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $2.50.
Read Our Latest Report on RLX Technology
RLX Technology Trading Down 0.9%
The firm’s fifty day moving average is $1.71 and its 200-day moving average is $2.02. The stock has a market capitalization of $2.47 billion, a PE ratio of 15.19 and a beta of 1.14.
RLX Technology (NYSE:RLX – Get Free Report) last announced its earnings results on Friday, August 14th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.06). The company had revenue of $148.73 million for the quarter, compared to analysts’ expectations of $173.99 million. RLX Technology had a return on equity of 6.20% and a net margin of 20.24%.
Institutional Trading of RLX Technology
Several institutional investors have recently added to or reduced their stakes in the stock. OLP CAPITAL MANAGEMENT Ltd acquired a new stake in shares of RLX Technology in the first quarter valued at $29,013,000. Bank of America Corp DE lifted its stake in RLX Technology by 113.0% during the 1st quarter. Bank of America Corp DE now owns 2,449,708 shares of the company’s stock worth $5,389,000 after acquiring an additional 1,299,828 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in RLX Technology by 105.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,495,059 shares of the company’s stock worth $2,542,000 after acquiring an additional 767,549 shares in the last quarter. Renaissance Technologies LLC acquired a new position in RLX Technology during the 1st quarter worth about $1,976,000. Finally, Public Employees Retirement System of Ohio acquired a new position in RLX Technology during the 2nd quarter worth about $674,000. Institutional investors and hedge funds own 22.68% of the company’s stock.
About RLX Technology
RLX Technology is a China-based company that develops, manufactures and sells electronic vapor products under the RELX brand. Founded in 2018 by Kate Wang, the company focuses on branded e-cigarettes and related products.
Its offerings include electronic vapor devices, prefilled pods and accessories. RLX also conducts product research and development and supports the manufacturing and distribution of its products.
The company serves customers in China and international markets through retail and distribution channels.
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