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

by · The Markets Daily

Shares of RLX Technology Inc. Sponsored ADR (NYSE:RLX – Get Free Report) reached a new 52-week low on Monday. The company traded as low as $1.65 and last traded at $1.6550, with a volume of 102539 shares trading hands. The stock had previously closed at $1.68.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of RLX Technology in a report on Friday, July 17th. Wall Street Zen raised RLX Technology from a “sell” rating to a “hold” rating in a research note on Saturday, September 19th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $2.50.

Read Our Latest Analysis on RLX

RLX Technology Stock Performance

The firm has a market cap of $2.56 billion, a P/E ratio of 15.76 and a beta of 1.16. The stock’s 50-day moving average is $1.87 and its 200 day moving average is $2.01.

RLX Technology (NYSE:RLX – Get Free Report) last posted 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). 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 the consensus estimate of $173.99 million.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in RLX. OLP CAPITAL MANAGEMENT Ltd acquired a new stake in RLX Technology in the first quarter valued at $29,013,000. Pictet Asset Management Holding SA grew 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 valued at $8,255,000 after purchasing an additional 3,520,377 shares during the last quarter. Bank of America Corp DE boosted its position in shares of RLX Technology by 113.0% in the first quarter. Bank of America Corp DE now owns 2,449,708 shares of the company’s stock valued at $5,389,000 after acquiring an additional 1,299,828 shares during the period. Renaissance Technologies LLC acquired a new position in shares of RLX Technology during the 1st quarter worth approximately $1,976,000. Finally, Public Employees Retirement System of Ohio acquired a new position in RLX Technology in the 2nd quarter valued at $674,000. Institutional investors and hedge funds own 22.68% of the company’s stock.

RLX Technology Company Profile

(Get Free Report)

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.

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