RLX Technology (NYSE:RLX - Get Free Report) was downgraded by stock analysts at Citigroup from a "buy" rating to a "neutral" rating in a note issued to investors on Monday,Briefing.com Automated Import reports. They presently have a $2.50 target price on the stock, down from their previous target price of $2.80. Citigroup's price objective would suggest a potential upside of 10.86% from the company's current price.
RLX Technology Trading Down 4.0 %
RLX Technology stock opened at $2.26 on Monday. RLX Technology has a 1-year low of $1.50 and a 1-year high of $2.69. The firm has a market capitalization of $3.54 billion, a price-to-earnings ratio of 56.39 and a beta of 0.93. The firm's fifty day moving average price is $2.28 and its two-hundred day moving average price is $1.96.
RLX Technology (NYSE:RLX - Get Free Report) last posted 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). RLX Technology had a return on equity of 2.48% and a net margin of 15.70%. The firm had revenue of $111.46 million for the quarter, compared to analysts' expectations of $764.69 million.
Institutional Investors Weigh In On RLX Technology
Large investors have recently made changes to their positions in the business. Janney Montgomery Scott LLC bought a new stake in RLX Technology in the 4th quarter valued at about $31,000. Centiva Capital LP purchased a new stake in shares of RLX Technology during the 3rd quarter valued at approximately $29,000. Mirae Asset Global Investments Co. Ltd. bought a new position in RLX Technology in the 4th quarter worth approximately $42,000. Boothbay Fund Management LLC purchased a new position in RLX Technology in the 4th quarter valued at approximately $43,000. Finally, Catalina Capital Group LLC bought a new stake in RLX Technology during the 4th quarter valued at $63,000. 22.68% of the stock is owned by hedge funds and other institutional investors.
RLX Technology Company Profile
(
Get Free Report)
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.
Read More
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider RLX Technology, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and RLX Technology wasn't on the list.
While RLX Technology currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are likely to thrive in today's challenging market? Enter your email address and we'll send you MarketBeat's list of ten stocks that will drive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
