Short Interest in RLX Technology Inc. (NYSE:RLX) Declines By 17.5%

RLX Technology Inc. (NYSE:RLX - Get Free Report) was the recipient of a large decrease in short interest during the month of February. As of February 28th, there was short interest totalling 11,470,000 shares, a decrease of 17.5% from the February 13th total of 13,900,000 shares. Currently, 1.3% of the company's stock are sold short. Based on an average daily volume of 5,160,000 shares, the short-interest ratio is presently 2.2 days.

Hedge Funds Weigh In On RLX Technology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BRIGHT VALLEY CAPITAL Ltd purchased a new position in RLX Technology in the 4th quarter worth $19,297,000. Barclays PLC raised its stake in RLX Technology by 5,047.4% in the 4th quarter. Barclays PLC now owns 5,686,433 shares of the company's stock worth $12,282,000 after acquiring an additional 5,575,962 shares during the last quarter. Oasis Management Co Ltd. raised its stake in RLX Technology by 9.5% in the 4th quarter. Oasis Management Co Ltd. now owns 5,592,665 shares of the company's stock worth $12,080,000 after acquiring an additional 484,542 shares during the last quarter. Nomura Holdings Inc. raised its stake in RLX Technology by 86.1% in the 4th quarter. Nomura Holdings Inc. now owns 3,600,987 shares of the company's stock worth $7,778,000 after acquiring an additional 1,665,518 shares during the last quarter. Finally, Millennium Management LLC raised its stake in RLX Technology by 40.1% in the 4th quarter. Millennium Management LLC now owns 3,459,960 shares of the company's stock worth $7,474,000 after acquiring an additional 991,100 shares during the last quarter. Hedge funds and other institutional investors own 22.68% of the company's stock.

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RLX Technology Trading Down 0.3 %

Shares of RLX traded down $0.01 during midday trading on Friday, hitting $1.99. 9,462,744 shares of the company's stock traded hands, compared to its average volume of 4,564,191. RLX Technology has a 1 year low of $1.50 and a 1 year high of $2.69. The firm's fifty day moving average is $2.26 and its 200-day moving average is $1.97. The stock has a market capitalization 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 issued its earnings results 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 firm had revenue of $111.46 million during the quarter, compared to analysts' expectations of $764.69 million. RLX Technology had a return on equity of 2.48% and a net margin of 15.70%.

Wall Street Analyst Weigh In

Separately, Citigroup lowered RLX Technology from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $2.80 to $2.50 in a 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.