RLX Technology (NYSE:RLX) Issues Quarterly Earnings Results

RLX Technology (NYSE:RLX - Get Free Report) issued its earnings results on Friday. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.19), Zacks reports. RLX Technology had a net margin of 15.70% and a return on equity of 2.48%. The business had revenue of $111.46 million for the quarter, compared to analyst estimates of $764.69 million.

RLX Technology Price Performance

Shares of RLX traded down $0.30 during trading hours on Monday, hitting $1.96. The stock had a trading volume of 28,779,731 shares, compared to its average volume of 4,592,158. The stock has a market capitalization of $3.08 billion, a price-to-earnings ratio of 49.09 and a beta of 0.93. The company's fifty day moving average is $2.27 and its two-hundred day moving average is $1.96. RLX Technology has a 52 week low of $1.50 and a 52 week high of $2.69.

Wall Street Analyst Weigh In

Separately, Citigroup cut RLX Technology from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $2.80 to $2.50 in a report on Monday.

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.