Free Trial

RLX Technology (NYSE:RLX) Shares Gap Down on Disappointing Earnings

RLX Technology logo with Consumer Discretionary background
Remove Ads

RLX Technology Inc. (NYSE:RLX - Get Free Report)'s stock price gapped down before the market opened on Friday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $2.35, but opened at $2.29. RLX Technology shares last traded at $2.26, with a volume of 2,749,902 shares changing hands.

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 firm had revenue of $111.46 million during the quarter, compared to analyst estimates of $764.69 million.

Wall Street Analysts Forecast Growth

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

Read Our Latest Stock Report on RLX

Hedge Funds Weigh In On RLX Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RLX. Mariner LLC lifted its stake in RLX Technology by 0.3% in the fourth quarter. Mariner LLC now owns 1,671,840 shares of the company's stock valued at $3,611,000 after buying an additional 4,987 shares during the period. Barclays PLC boosted its stake in shares of RLX Technology by 5.0% during the 3rd quarter. Barclays PLC now owns 110,471 shares of the company's stock worth $200,000 after acquiring an additional 5,267 shares during the period. Bank of America Corp DE boosted its stake in shares of RLX Technology by 6.0% during the 4th quarter. Bank of America Corp DE now owns 166,949 shares of the company's stock worth $361,000 after acquiring an additional 9,512 shares during the period. Marshall Wace LLP lifted its holdings in RLX Technology by 3.9% during the 4th quarter. Marshall Wace LLP now owns 267,606 shares of the company's stock worth $578,000 after purchasing an additional 10,071 shares during the last quarter. Finally, Janney Montgomery Scott LLC acquired a new position in RLX Technology in the 4th quarter valued at $31,000. 22.68% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

RLX Technology Stock Performance

The company has a fifty day simple moving average of $2.27 and a two-hundred day simple moving average of $1.96. The stock has a market capitalization of $3.28 billion, a price-to-earnings ratio of 52.14 and a beta of 0.93.

About RLX Technology

(Get Free Report)

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.

Read More

Should You Invest $1,000 in RLX Technology Right Now?

Before you consider RLX Technology, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and RLX Technology wasn't on the list.

While RLX Technology currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

10 Best Cheap Stocks to Buy Now Cover

MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Enter your email address and below to see which companies made the list.

Get This Free Report
Like this article? Share it with a colleague.
Remove Ads

Featured Articles and Offers

Recent Videos

7 Flying Car Stocks to Buy Before the Sector Really Takes Off
Institutions Are Dumping These 3 Stocks—Should You?
Will Tesla’s Robot Future Save Its Falling Stock?

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines

Remove Ads