Charles Schwab Investment Management Inc. Has $1.69 Million Stock Position in RLX Technology Inc. (NYSE:RLX)

Charles Schwab Investment Management Inc. trimmed its holdings in RLX Technology Inc. (NYSE:RLX - Free Report) by 20.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 784,414 shares of the company's stock after selling 201,892 shares during the period. Charles Schwab Investment Management Inc.'s holdings in RLX Technology were worth $1,694,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Centiva Capital LP acquired a new stake in RLX Technology during the 3rd quarter valued at $29,000. Janney Montgomery Scott LLC acquired a new stake in shares of RLX Technology during the 4th quarter worth about $31,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of RLX Technology during the 4th quarter worth about $42,000. Catalina Capital Group LLC acquired a new position in RLX Technology in the 4th quarter valued at about $63,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in RLX Technology in the 3rd quarter valued at about $108,000. 22.68% of the stock is currently owned by institutional investors.

RLX Technology Trading Down 1.1 %

RLX stock traded down $0.02 during trading hours on Wednesday, hitting $1.87. 1,688,048 shares of the stock were exchanged, compared to its average volume of 4,577,317. RLX Technology Inc. has a 12 month low of $1.50 and a 12 month high of $2.69. The firm has a market capitalization of $2.94 billion, a P/E ratio of 46.76 and a beta of 0.93. The company has a 50-day simple moving average of $2.21 and a two-hundred day simple moving average of $1.98.

RLX Technology (NYSE:RLX - Get Free Report) last released its quarterly earnings results on Friday, March 14th. The company reported $0.01 EPS for the quarter, missing analysts' consensus estimates of $0.20 by ($0.19). The business had revenue of $111.46 million for the quarter, compared to the consensus estimate of $764.69 million. RLX Technology had a return on equity of 2.48% and a net margin of 15.70%.

Analysts Set New Price Targets

Separately, Citigroup downgraded RLX Technology from a "buy" rating to a "neutral" rating and decreased their target price for the company from $2.80 to $2.50 in a research report on Monday, March 17th.

About RLX Technology

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.