RLX Technology (NYSE:RLX) Sets New 12-Month Low – What’s Next?

RLX Technology Inc. Sponsored ADR (NYSE:RLX) shares hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $1.74 and last traded at $1.7450, with a volume of 1625076 shares changing hands. The stock had previously closed at $1.79.

Wall Street Analyst Weigh In

Several research firms have commented on RLX. Wall Street Zen cut shares of RLX Technology from a “hold” rating to a “sell” rating in a research note on Saturday, August 22nd. Weiss Ratings restated a “hold (c)” rating on shares of RLX Technology in a report on Friday, July 17th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $2.50.

RLX Technology Price Performance

The stock has a market cap of $2.75 billion, a PE ratio of 16.90 and a beta of 1.16. The business has a fifty day moving average of $1.92 and a 200 day moving average of $2.06.

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

Institutional Investors Weigh In On RLX Technology

A number of institutional investors and hedge funds have recently bought and sold shares of RLX. OLP CAPITAL MANAGEMENT Ltd purchased a new stake in shares of RLX Technology in the 1st quarter valued at approximately $29,013,000. Pictet Asset Management Holding SA lifted its position in shares of RLX Technology by 1,517.6% in the first quarter. Pictet Asset Management Holding SA now owns 3,752,344 shares of the company’s stock worth $8,255,000 after purchasing an additional 3,520,377 shares in the last quarter. Mackenzie Financial Corp acquired a new stake in shares of RLX Technology during the third quarter worth approximately $7,900,000. Mariner LLC boosted its holdings in shares of RLX Technology by 7,564.1% during the third quarter. Mariner LLC now owns 1,668,476 shares of the company’s stock worth $4,388,000 after purchasing an additional 1,646,706 shares during the period. Finally, Capitolis Liquid Global Markets LLC purchased a new position in RLX Technology during the fourth quarter valued at approximately $3,519,000. 22.68% of the stock is owned by institutional investors and hedge funds.

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.