Citigroup lowered shares of RLX Technology (NYSE:RLX - Free Report) from a buy rating to a neutral rating in a report issued on Monday morning, MarketBeat reports. The brokerage currently has $2.50 price target on the stock, down from their previous price target of $2.80.
RLX Technology Stock Down 0.3 %
Shares of RLX traded down $0.01 during mid-day trading on Monday, reaching $1.99. 9,462,744 shares of the company's stock were exchanged, compared to its average volume of 4,598,973. RLX Technology has a 52-week low of $1.50 and a 52-week high of $2.69. The company has a 50-day simple moving average of $2.26 and a two-hundred day simple moving average of $1.97. The company has a market cap of $3.12 billion, a price-to-earnings ratio of 49.64 and a beta of 0.93.
RLX Technology (NYSE:RLX - Get Free Report) last released its quarterly earnings results on Friday, March 14th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.19). RLX Technology had a return on equity of 2.48% and a net margin of 15.70%. The company had revenue of $111.46 million for the quarter, compared to analysts' expectations of $764.69 million.
Institutional Investors Weigh In On RLX Technology
Hedge funds have recently modified their holdings of the company. Janney Montgomery Scott LLC acquired a new position in shares of RLX Technology in the fourth quarter valued at approximately $31,000. Centiva Capital LP acquired a new position in RLX Technology in the 3rd quarter valued at $29,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in RLX Technology in the 4th quarter valued at $42,000. Boothbay Fund Management LLC purchased a new position in shares of RLX Technology during the 4th quarter worth $43,000. Finally, Catalina Capital Group LLC acquired a new stake in shares of RLX Technology during the fourth quarter worth $63,000. 22.68% of the stock is owned by institutional investors and hedge funds.
RLX Technology Company Profile
(
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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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