RLX Technology Inc. (NYSE:RLX - Get Free Report) was the target of a large increase in short interest in March. As of March 15th, there was short interest totalling 14,070,000 shares, an increase of 22.7% from the February 28th total of 11,470,000 shares. Currently, 1.6% of the company's shares are short sold. Based on an average trading volume of 5,960,000 shares, the days-to-cover ratio is currently 2.4 days.
Analysts Set New Price Targets
Separately, Citigroup downgraded shares of RLX Technology from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $2.80 to $2.50 in a research report on Monday, March 17th.
Get Our Latest Stock Analysis on RLX Technology
RLX Technology Trading Down 1.4 %
NYSE:RLX traded down $0.03 during mid-day trading on Friday, hitting $1.82. The company's stock had a trading volume of 11,476,200 shares, compared to its average volume of 4,635,109. RLX Technology has a fifty-two week low of $1.50 and a fifty-two week high of $2.69. The company has a market capitalization of $2.85 billion, a price-to-earnings ratio of 45.39 and a beta of 1.03. The stock has a fifty day moving average of $2.20 and a 200-day moving average of $1.99.
RLX Technology (NYSE:RLX - Get Free Report) last released its quarterly earnings data on Friday, March 14th. The company reported $0.01 EPS 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 during the quarter, compared to the consensus estimate of $764.69 million.
Institutional Investors Weigh In On RLX Technology
Large investors have recently made changes to their positions in the stock. Centiva Capital LP bought a new position in shares of RLX Technology during the third quarter worth approximately $29,000. Janney Montgomery Scott LLC acquired a new stake in shares of RLX Technology in the 4th quarter valued at approximately $31,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in RLX Technology in the 4th quarter worth about $42,000. Boothbay Fund Management LLC bought a new position in shares of RLX Technology during the fourth quarter valued at $43,000. Finally, Catalina Capital Group LLC bought a new stake in RLX Technology in the fourth quarter valued at approximately $63,000. Institutional investors and hedge funds own 22.68% of the company's stock.
About RLX Technology
(
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.
See Also
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
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
