RLX Technology (NYSE:RLX) Hits New 12-Month Low – Here’s Why

RLX Technology Inc. Sponsored ADR (NYSE:RLX) shares reached a new 52-week low on Thursday . The stock traded as low as $1.97 and last traded at $2.0350, with a volume of 883012 shares traded. The stock had previously closed at $1.98.

Analyst Ratings Changes

RLX has been the topic of several analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of RLX Technology in a report on Tuesday, April 21st. Wall Street Zen upgraded shares of RLX Technology from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. Finally, Citigroup reduced their target price on RLX Technology from $2.60 to $2.50 and set a “neutral” rating for the company in a research note on Monday, March 16th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $2.50.

RLX Technology Stock Up 3.3%

The company’s 50-day moving average is $2.16 and its two-hundred day moving average is $2.28. The company has a market capitalization of $3.17 billion, a P/E ratio of 20.45 and a beta of 1.16.

RLX Technology (NYSE:RLX) last released its earnings results on Wednesday, May 20th. The company reported $0.03 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.03. The firm had revenue of $230.01 million for the quarter, compared to the consensus estimate of $166.99 million. RLX Technology had a net margin of 20.76% and a return on equity of 6.15%.

Institutional Trading of RLX Technology

Institutional investors and hedge funds have recently made changes to their positions in the business. OLP CAPITAL MANAGEMENT Ltd purchased a new position in shares of RLX Technology during the 1st quarter worth $29,013,000. Pictet Asset Management Holding SA boosted its stake in shares of RLX Technology by 1,517.6% during the 1st quarter. Pictet Asset Management Holding SA now owns 3,752,344 shares of the company’s stock worth $8,255,000 after acquiring an additional 3,520,377 shares in the last quarter. Mackenzie Financial Corp acquired a new position in shares of RLX Technology in the third quarter worth $7,900,000. Mariner LLC lifted its position in RLX Technology by 7,564.1% during the third quarter. Mariner LLC now owns 1,668,476 shares of the company’s stock worth $4,388,000 after buying an additional 1,646,706 shares during the period. Finally, Capitolis Liquid Global Markets LLC acquired a new position in RLX Technology during the fourth quarter valued at approximately $3,519,000. 22.68% of the stock is currently owned by hedge funds and other institutional investors.

About RLX Technology

RLX Technology Inc (NYSE:RLX) is a China-based company specializing in electronic nicotine delivery systems. The company develops, manufactures and markets closed-pod vaping devices and prefilled cartridges, positioning its products as an alternative to traditional combustible tobacco. RLX emphasizes consistent nicotine delivery, flavor variety and convenience through its proprietary e-liquid formulations and device design.

RLX operates a vertically integrated business model that encompasses research and development, production, quality control and sales.