Shares of RLX Technology Inc. (NYSE:RLX - Get Free Report) were down 3.6% during mid-day trading on Wednesday . The company traded as low as $2.02 and last traded at $2.02. Approximately 11,635,733 shares were traded during mid-day trading, an increase of 153% from the average daily volume of 4,595,661 shares. The stock had previously closed at $2.09.
Analyst Upgrades and Downgrades
Separately, Citigroup cut RLX Technology from a "buy" rating to a "neutral" rating and cut their price target for the company from $2.80 to $2.50 in a report on Monday, March 17th.
Get Our Latest Stock Report on RLX
RLX Technology Trading Down 0.3 %
The firm has a fifty day moving average price of $2.26 and a 200 day moving average price of $1.97. The firm has a market cap of $3.12 billion, a PE ratio of 49.64 and a beta of 0.93.
RLX Technology (NYSE:RLX - Get Free Report) last announced its quarterly earnings results on Friday, March 14th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.19). 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 during the quarter, compared to analyst estimates of $764.69 million.
Hedge Funds Weigh In On RLX Technology
Hedge funds have recently made changes to their positions in the stock. Mariner LLC lifted its stake in RLX Technology by 0.3% during the fourth quarter. Mariner LLC now owns 1,671,840 shares of the company's stock worth $3,611,000 after purchasing an additional 4,987 shares in the last quarter. Barclays PLC lifted its position in shares of RLX Technology by 5.0% during the third quarter. Barclays PLC now owns 110,471 shares of the company's stock worth $200,000 after purchasing an additional 5,267 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of RLX Technology by 6.0% in the fourth quarter. Bank of America Corp DE now owns 166,949 shares of the company's stock valued at $361,000 after purchasing an additional 9,512 shares during the period. Marshall Wace LLP grew its holdings in shares of RLX Technology by 3.9% in the fourth quarter. Marshall Wace LLP now owns 267,606 shares of the company's stock valued at $578,000 after purchasing an additional 10,071 shares in the last quarter. Finally, Janney Montgomery Scott LLC purchased a new stake in RLX Technology during the 4th quarter worth approximately $31,000. Hedge funds and other institutional investors own 22.68% of the company's stock.
About RLX Technology
(
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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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