RLX Technology Inc. (NYSE:RLX - Get Free Report)'s share price gapped up before the market opened on Tuesday . The stock had previously closed at $1.96, but opened at $2.04. RLX Technology shares last traded at $2.08, with a volume of 2,295,717 shares changing hands.
Analysts Set New Price Targets
Separately, Citigroup cut shares of RLX Technology from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $2.80 to $2.50 in a report on Monday, March 17th.
View Our Latest Stock Analysis on RLX
RLX Technology Stock Down 0.3 %
The firm has a 50-day moving average price of $2.26 and a two-hundred day moving average price of $1.97. The company has a market capitalization of $3.12 billion, a P/E ratio of 49.64 and a beta of 0.93.
RLX Technology (NYSE:RLX - Get Free Report) last issued its quarterly earnings results on Friday, March 14th. The company reported $0.01 earnings per share for the quarter, missing analysts' consensus estimates of $0.20 by ($0.19). The company had revenue of $111.46 million during the quarter, compared to the consensus estimate of $764.69 million. RLX Technology had a net margin of 15.70% and a return on equity of 2.48%.
Institutional Investors Weigh In On RLX Technology
A number of institutional investors have recently added to or reduced their stakes in RLX. Centiva Capital LP bought a new stake in shares of RLX Technology in the 3rd quarter worth approximately $29,000. Janney Montgomery Scott LLC acquired a new position in shares of RLX Technology in the fourth quarter valued at $31,000. Mirae Asset Global Investments Co. Ltd. bought a new position in RLX Technology in the fourth quarter worth $42,000. Boothbay Fund Management LLC acquired a new stake in RLX Technology during the fourth quarter worth $43,000. Finally, Catalina Capital Group LLC bought a new stake in RLX Technology in the 4th quarter valued at $63,000. 22.68% of the stock is owned by institutional investors and hedge funds.
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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