Perseverance Asset Management International Has $16.49 Million Holdings in RLX Technology Inc. Sponsored ADR $RLX

Perseverance Asset Management International cut its position in shares of RLX Technology Inc. Sponsored ADR (NYSE:RLX) by 3.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,495,862 shares of the company’s stock after selling 295,066 shares during the quarter. RLX Technology accounts for 1.8% of Perseverance Asset Management International’s portfolio, making the stock its 13th largest position. Perseverance Asset Management International’s holdings in RLX Technology were worth $16,491,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in RLX. Schonfeld Strategic Advisors LLC purchased a new position in shares of RLX Technology in the fourth quarter worth approximately $26,000. Insigneo Advisory Services LLC purchased a new stake in shares of RLX Technology in the 4th quarter valued at approximately $29,000. AXQ Capital LP purchased a new stake in shares of RLX Technology in the 4th quarter valued at approximately $30,000. Dimensional Fund Advisors LP acquired a new position in RLX Technology in the 1st quarter worth approximately $32,000. Finally, SmartHarvest Portfolios LLC acquired a new position in RLX Technology in the 4th quarter worth approximately $40,000. 22.68% of the stock is currently owned by institutional investors and hedge funds.

RLX Technology Stock Performance

RLX Technology stock opened at $2.02 on Friday. The firm has a market cap of $3.14 billion, a PE ratio of 20.25 and a beta of 1.16. The firm’s 50 day moving average price is $1.99 and its two-hundred day moving average price is $2.16. RLX Technology Inc. Sponsored ADR has a twelve month low of $1.76 and a twelve month high of $2.84.

RLX Technology (NYSE:RLX) last released its earnings results on Wednesday, May 20th. The company reported $0.03 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.03. The company had revenue of $230.01 million during 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%.

Analysts Set New Price Targets

Several research firms have weighed in on RLX. Wall Street Zen raised shares of RLX Technology from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of RLX Technology in a research report on Friday, July 17th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $2.50.

RLX Technology Profile

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.