RLX Technology (NYSE:RLX) Shares Down 1.9% - Should You Sell?

Shares of RLX Technology Inc. (NYSE:RLX - Get Free Report) fell 1.9% during mid-day trading on Wednesday . The company traded as low as $1.76 and last traded at $1.81. 6,349,350 shares changed hands during mid-day trading, an increase of 36% from the average session volume of 4,678,916 shares. The stock had previously closed at $1.84.

Analyst Ratings Changes

Separately, Citigroup cut RLX Technology from a "buy" rating to a "neutral" rating and lowered their target price for the company from $2.80 to $2.50 in a research report on Monday, March 17th.

RLX Technology Stock Down 2.0 %

The stock has a market capitalization of $2.68 billion, a price-to-earnings ratio of 42.64 and a beta of 1.03. The business has a 50-day simple moving average of $2.14 and a two-hundred day simple moving average of $1.99.

RLX Technology (NYSE:RLX - Get Free Report) last released 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). RLX Technology had a return on equity of 2.48% and a net margin of 15.70%. The firm had revenue of $111.46 million for the quarter, compared to analyst estimates of $764.69 million.

Institutional Investors Weigh In On RLX Technology

Several large investors have recently modified their holdings of RLX. BRIGHT VALLEY CAPITAL Ltd acquired a new stake in shares of RLX Technology during the fourth quarter valued at approximately $19,297,000. Barclays PLC raised its position in RLX Technology by 5,047.4% during the fourth quarter. Barclays PLC now owns 5,686,433 shares of the company's stock valued at $12,282,000 after buying an additional 5,575,962 shares during the period. Man Group plc lifted its stake in RLX Technology by 118.8% in the 4th quarter. Man Group plc now owns 3,165,638 shares of the company's stock worth $6,838,000 after acquiring an additional 1,718,816 shares in the last quarter. Nomura Holdings Inc. lifted 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 in the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its position in RLX Technology by 124.6% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 2,102,446 shares of the company's stock worth $4,541,000 after acquiring an additional 1,166,409 shares during the period. 22.68% of the stock is owned by institutional investors.

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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.