JPMorgan Chase & Co. Sells 9,592,571 Shares of RLX Technology Inc. (NYSE:RLX)

JPMorgan Chase & Co. cut its stake in shares of RLX Technology Inc. (NYSE:RLX - Free Report) by 63.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,456,554 shares of the company's stock after selling 9,592,571 shares during the period. JPMorgan Chase & Co. owned 0.35% of RLX Technology worth $11,786,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. increased its holdings in RLX Technology by 1,239.1% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 801,104 shares of the company's stock worth $1,730,000 after acquiring an additional 741,281 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of RLX Technology by 58.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 612,067 shares of the company's stock worth $1,108,000 after purchasing an additional 225,200 shares during the period. Hosking Partners LLP raised its position in shares of RLX Technology by 24.8% in the fourth quarter. Hosking Partners LLP now owns 981,533 shares of the company's stock worth $2,120,000 after buying an additional 194,770 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in RLX Technology during the third quarter valued at $221,000. Finally, XTX Topco Ltd bought a new stake in RLX Technology during the third quarter valued at $184,000. 22.68% of the stock is owned by hedge funds and other institutional investors.

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RLX Technology Stock Up 0.9 %

Shares of RLX traded up $0.02 during trading hours on Tuesday, hitting $1.70. The company had a trading volume of 6,334,717 shares, compared to its average volume of 4,807,737. RLX Technology Inc. has a 52-week low of $1.50 and a 52-week high of $2.69. The stock's 50 day moving average price is $2.12 and its 200 day moving average price is $1.99. The firm has a market cap of $2.66 billion, a P/E ratio of 42.39 and a beta of 1.03.

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

Analysts Set New Price Targets

Separately, Citigroup lowered shares of RLX Technology from a "buy" rating to a "neutral" rating and cut their target price for the stock from $2.80 to $2.50 in a research report on Monday, March 17th.

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.