RLX Technology (NYSE:RLX) Hits New 52-Week Low – Time to Sell?

RLX Technology Inc. Sponsored ADR (NYSE:RLX) reached a new 52-week low on Friday . The stock traded as low as $1.96 and last traded at $1.9750, with a volume of 327656 shares. The stock had previously closed at $2.02.

Analyst Ratings Changes

RLX has been the subject of several recent analyst reports. Wall Street Zen upgraded RLX Technology from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Citigroup cut their target price on RLX Technology from $2.60 to $2.50 and set a “neutral” rating for the company in a research note on Monday, March 16th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of RLX Technology in a research note on Tuesday, April 21st. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, RLX Technology currently has a consensus rating of “Hold” and an average target price of $2.50.

RLX Technology Trading Down 0.9%

The company has a market capitalization of $3.10 billion, a P/E ratio of 20.02 and a beta of 1.13. The stock has a 50 day moving average price of $2.14 and a 200 day moving average price of $2.27.

RLX Technology (NYSE:RLX) last announced its 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. The business had revenue of $230.01 million during the quarter, compared to analyst estimates of $166.99 million. RLX Technology had a return on equity of 6.15% and a net margin of 20.76%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Schonfeld Strategic Advisors LLC bought a new position in RLX Technology during the 4th quarter worth $26,000. Insigneo Advisory Services LLC bought a new position in RLX Technology during the 4th quarter worth $29,000. AXQ Capital LP bought a new position in RLX Technology during the 4th quarter worth $30,000. Dimensional Fund Advisors LP bought a new position in RLX Technology during the 1st quarter worth $32,000. Finally, SmartHarvest Portfolios LLC bought a new position in RLX Technology during the 4th quarter worth $40,000. 22.68% of the stock is owned by institutional investors.

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.