RLX Technology Inc. (NYSE:RLX - Get Free Report) saw unusually-high trading volume on Monday . Approximately 6,572,226 shares traded hands during mid-day trading, an increase of 26% from the previous session's volume of 5,208,013 shares.The stock last traded at $1.96 and had previously closed at $2.26.
Analysts Set New Price Targets
Separately, Citigroup downgraded shares of RLX Technology from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $2.80 to $2.50 in a research note on Monday.
Read Our Latest Report on RLX Technology
RLX Technology Trading Down 0.3 %
The stock has a 50-day simple moving average of $2.26 and a 200 day simple moving average of $1.97. The company has a market cap 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 released its earnings results on Friday, March 14th. The company reported $0.01 EPS for the quarter, missing analysts' consensus estimates of $0.20 by ($0.19). The firm 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%.
Institutional Trading of RLX Technology
Several large investors have recently made changes to their positions in the business. BRIGHT VALLEY CAPITAL Ltd purchased a new position in shares of RLX Technology during the fourth quarter worth $19,297,000. Barclays PLC boosted its holdings in RLX Technology by 5,047.4% in the fourth quarter. Barclays PLC now owns 5,686,433 shares of the company's stock valued at $12,282,000 after purchasing an additional 5,575,962 shares during the last quarter. Oasis Management Co Ltd. grew its position in RLX Technology by 9.5% during the 4th quarter. Oasis Management Co Ltd. now owns 5,592,665 shares of the company's stock worth $12,080,000 after purchasing an additional 484,542 shares during the period. Nomura Holdings Inc. raised its stake in shares of RLX Technology by 86.1% during the 4th quarter. Nomura Holdings Inc. now owns 3,600,987 shares of the company's stock valued at $7,778,000 after buying an additional 1,665,518 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of RLX Technology by 40.1% in the 4th quarter. Millennium Management LLC now owns 3,459,960 shares of the company's stock valued at $7,474,000 after buying an additional 991,100 shares during the period. 22.68% of the stock is owned by hedge funds and other institutional investors.
RLX Technology Company Profile
(
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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.
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