Short Interest in RLX Technology Inc. (NYSE:RLX) Grows By 22.7%

RLX Technology Inc. (NYSE:RLX) was the target of a large increase in short interest in March. As of March 15th, there was short interest totalling 14,070,000 shares, an increase of 22.7% from the February 28th total of 11,470,000 shares. Currently, 1.6% of the company’s stock are short sold. Based on an average trading volume of 5,960,000 shares, the days-to-cover ratio is presently 2.4 days.

Analysts Set New Price Targets

Separately, Citigroup cut shares of RLX Technology from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $2.80 to $2.50 in a research note on Monday, March 17th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. BRIGHT VALLEY CAPITAL Ltd acquired a new stake in shares of RLX Technology in the fourth quarter valued at $19,297,000. Barclays PLC raised its holdings in shares of RLX Technology by 5,047.4% during the fourth quarter. Barclays PLC now owns 5,686,433 shares of the company’s stock worth $12,282,000 after acquiring an additional 5,575,962 shares during the period. Oasis Management Co Ltd. raised its stake in shares of RLX Technology by 9.5% in the 4th quarter. Oasis Management Co Ltd. now owns 5,592,665 shares of the company’s stock valued at $12,080,000 after purchasing an additional 484,542 shares during the period. Nomura Holdings Inc. boosted its holdings in RLX Technology by 86.1% during the fourth quarter. Nomura Holdings Inc. now owns 3,600,987 shares of the company’s stock worth $7,778,000 after purchasing an additional 1,665,518 shares during the last quarter. Finally, Millennium Management LLC increased its position in shares of RLX Technology by 40.1% in the fourth quarter. Millennium Management LLC now owns 3,459,960 shares of the company’s stock valued at $7,474,000 after acquiring an additional 991,100 shares during the last quarter. 22.68% of the stock is owned by institutional investors.

RLX Technology Stock Down 1.9 %

RLX Technology stock traded down $0.04 during trading hours on Thursday, hitting $1.84. 2,598,964 shares of the company traded hands, compared to its average volume of 4,570,520. The firm’s 50-day simple moving average is $2.21 and its two-hundred day simple moving average is $1.98. The firm has a market cap of $2.88 billion, a P/E ratio of 45.89 and a beta of 0.93. RLX Technology has a 1-year low of $1.50 and a 1-year high of $2.69.

RLX Technology (NYSE:RLX) last released its quarterly earnings data on Friday, March 14th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.19). RLX Technology had a return on equity of 2.48% and a net margin of 15.70%. The firm had revenue of $111.46 million during the quarter, compared to analyst estimates of $764.69 million.

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.