RLX Technology Inc. (NYSE:RLX - Get Free Report) shares gapped down before the market opened on Friday following a dissappointing earnings announcement. 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.
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 net margin of 15.70% and a return on equity of 2.48%. The company had revenue of $111.46 million during the quarter, compared to analysts' expectations of $764.69 million.
Wall Street Analyst Weigh In
Separately, Citigroup lowered RLX Technology from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $2.80 to $2.50 in a research note on Monday.
View Our Latest Stock Analysis on RLX Technology
Institutional Trading of RLX Technology
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Janney Montgomery Scott LLC acquired a new position in shares of RLX Technology in the 4th quarter worth approximately $31,000. Centiva Capital LP bought a new position in RLX Technology during the third quarter worth $29,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in RLX Technology in the fourth quarter worth $42,000. Boothbay Fund Management LLC acquired a new position in RLX Technology in the fourth quarter worth $43,000. Finally, Catalina Capital Group LLC bought a new stake in RLX Technology during the fourth quarter valued at $63,000. Institutional investors own 22.68% of the company's stock.
RLX Technology Price Performance
The stock's fifty day simple moving average is $2.27 and its two-hundred day simple moving average is $1.96. The company has a market capitalization of $3.08 billion, a price-to-earnings ratio of 49.09 and a beta of 0.93.
RLX Technology Company Profile
(
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.
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