RLX Technology (NYSE:RLX) Downgraded by Citigroup to Neutral

Citigroup downgraded shares of RLX Technology (NYSE:RLX - Free Report) from a buy rating to a neutral rating in a report issued on Monday morning, MarketBeat Ratings reports. They currently have $2.50 target price on the stock, down from their previous target price of $2.80.

RLX Technology Stock Up 6.4 %

RLX traded up $0.13 during trading on Monday, reaching $2.09. 13,160,358 shares of the company's stock were exchanged, compared to its average volume of 4,566,496. RLX Technology has a fifty-two week low of $1.50 and a fifty-two week high of $2.69. The business has a 50 day moving average price of $2.27 and a 200 day moving average price of $1.97. The company has a market capitalization of $3.28 billion, a P/E ratio of 52.14 and a beta of 0.93.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Centiva Capital LP bought a new stake in RLX Technology during the 3rd quarter worth about $29,000. Janney Montgomery Scott LLC acquired a new position in shares of RLX Technology during the 4th quarter worth about $31,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of RLX Technology during the 4th quarter worth about $42,000. Boothbay Fund Management LLC acquired a new position in shares of RLX Technology during the 4th quarter worth about $43,000. Finally, Catalina Capital Group LLC acquired a new position in shares of RLX Technology during the 4th quarter worth about $63,000. 22.68% of the stock is owned by institutional investors.

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RLX Technology Company Profile

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.