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

RLX Technology Inc. Sponsored ADR (NYSE:RLX) shares saw an uptick in trading volume on Tuesday . 3,018,418 shares traded hands during mid-day trading, an increase of 20% from the previous session’s volume of 2,510,469 shares.The stock last traded at $1.9250 and had previously closed at $1.96.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on RLX. Weiss Ratings reaffirmed a “hold (c)” rating on shares of RLX Technology in a research report on Tuesday, April 21st. Citigroup decreased their target price on RLX Technology from $2.60 to $2.50 and set a “neutral” rating on the stock in a research report on Monday, March 16th. Finally, Wall Street Zen upgraded RLX Technology from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $2.50.

RLX Technology Price Performance

The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of 19.15 and a beta of 1.16. The business has a 50 day moving average of $2.04 and a 200 day moving average of $2.19.

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

Institutional Trading of RLX Technology

Institutional investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio increased its stake in RLX Technology by 2.3% in the fourth quarter. Public Employees Retirement System of Ohio now owns 380,820 shares of the company’s stock valued at $887,000 after acquiring an additional 8,509 shares during the period. Franklin Resources Inc. lifted its stake in RLX Technology by 2.2% during the third quarter. Franklin Resources Inc. now owns 482,778 shares of the company’s stock worth $1,270,000 after purchasing an additional 10,522 shares during the period. Schonfeld Strategic Advisors LLC bought a new position in RLX Technology during the fourth quarter worth about $26,000. Insigneo Advisory Services LLC acquired a new stake in RLX Technology during the fourth quarter valued at approximately $29,000. Finally, AXQ Capital LP acquired a new stake in RLX Technology during the fourth quarter valued at approximately $30,000. 22.68% of the stock is currently owned by institutional investors and hedge funds.

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.