RLX Technology (NYSE:RLX) Reaches New 12-Month High – Here’s Why

Shares of RLX Technology Inc. (NYSE:RLX) hit a new 52-week high on Friday . The stock traded as high as $2.69 and last traded at $2.60, with a volume of 6410263 shares changing hands. The stock had previously closed at $2.32.

RLX Technology Price Performance

The business’s 50 day simple moving average is $2.19 and its 200 day simple moving average is $1.88. The company has a market capitalization of $3.84 billion, a PE ratio of 60.89 and a beta of 0.97.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Centiva Capital LP purchased a new position in shares of RLX Technology during the 3rd quarter worth $29,000. Janney Montgomery Scott LLC purchased a new stake in shares of RLX Technology during the fourth quarter worth $31,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of RLX Technology during the fourth quarter worth $42,000. Boothbay Fund Management LLC acquired a new stake in shares of RLX Technology in the fourth quarter valued at $43,000. Finally, Catalina Capital Group LLC purchased a new position in RLX Technology in the fourth quarter valued at $63,000. 22.68% of the stock is currently owned by hedge funds and other institutional investors.

RLX Technology Company Profile

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.