RLX Technology (NYSE:RLX) Announces Earnings Results

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

RLX Technology Trading Up 6.4 %

RLX stock traded up $0.13 during trading on Tuesday, reaching $2.09. 13,160,358 shares of the stock were exchanged, compared to its average volume of 4,626,299. The business has a 50 day moving average price of $2.27 and a 200-day moving average price of $1.96. 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 $3.28 billion, a price-to-earnings ratio of 52.14 and a beta of 0.93.

Analysts Set New Price Targets

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

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.