RLX Technology (NYSE:RLX) Upgraded at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen upgraded shares of RLX Technology (NYSE:RLX – Free Report) from a sell rating to a hold rating in a report issued on Sunday.

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of RLX Technology in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, RLX Technology presently has a consensus rating of “Hold” and a consensus price target of $2.25.

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RLX Technology Stock Performance

RLX Technology stock opened at $2.49 on Friday. The company has a market capitalization of $3.90 billion, a P/E ratio of 35.50 and a beta of 1.10. RLX Technology has a fifty-two week low of $1.66 and a fifty-two week high of $2.84. The stock has a 50-day simple moving average of $2.44 and a 200-day simple moving average of $2.32.

RLX Technology (NYSE:RLX – Get Free Report) last issued its quarterly earnings data on Friday, November 14th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The firm had revenue of $158.63 million during the quarter, compared to analysts’ expectations of $139.99 million. RLX Technology had a net margin of 21.05% and a return on equity of 4.74%.

RLX Technology Increases Dividend

The firm also recently disclosed an annual dividend, which will be paid on Monday, February 9th. Shareholders of record on Monday, January 26th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Monday, January 26th. This represents a yield of 390.0%. This is a boost from RLX Technology’s previous annual dividend of $0.01. RLX Technology’s dividend payout ratio is presently 14.29%.

Institutional Trading of RLX Technology

A number of institutional investors have recently modified their holdings of RLX. Vanguard Group Inc. raised its position in RLX Technology by 0.6% in the first quarter. Vanguard Group Inc. now owns 27,935,598 shares of the company’s stock worth $52,519,000 after acquiring an additional 156,350 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of RLX Technology by 10.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 866,827 shares of the company’s stock worth $1,630,000 after purchasing an additional 82,413 shares during the period. Headlands Technologies LLC increased its holdings in shares of RLX Technology by 411.8% in the 1st quarter. Headlands Technologies LLC now owns 25,766 shares of the company’s stock valued at $48,000 after purchasing an additional 20,732 shares in the last quarter. Hosking Partners LLP lifted its stake in shares of RLX Technology by 113.3% in the first quarter. Hosking Partners LLP now owns 2,093,781 shares of the company’s stock valued at $3,936,000 after purchasing an additional 1,112,248 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of RLX Technology by 73.6% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,390,852 shares of the company’s stock valued at $2,615,000 after purchasing an additional 589,748 shares during the period. 22.68% of the stock is currently owned by hedge funds and other institutional investors.

About RLX Technology

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RLX Technology Inc, together with its subsidiaries, engages in the manufacture and sale of e-vapor products in the People's Republic of China and internationally. It serves partner distributors and retail outlets. The company was founded in 2018 and is headquartered in Beijing, China.

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