RLX Technology (NYSE:RLX) Reaches New 1-Year Low – Should You Sell?

RLX Technology Inc. Sponsored ADR (NYSE:RLX) reached a new 52-week low during trading on Monday. The stock traded as low as $1.58 and last traded at $1.5950, with a volume of 207,458 shares trading hands. The stock had previously closed at $1.61.

Wall Street Analyst Weigh In

RLX has been the subject of a number of research reports. Weiss Ratings restated a “hold (c)” rating on shares of RLX Technology in a report on Thursday, October 15th. Wall Street Zen lowered shares of RLX Technology from a “hold” rating to a “sell” rating in a report on Saturday. Two analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, RLX Technology presently has a consensus rating of “Hold” and a consensus price target of $2.50.

RLX Technology Price Performance

The stock’s 50 day moving average is $1.71 and its two-hundred day moving average is $2.02. The stock has a market capitalization of $2.47 billion, a PE ratio of 15.19 and a beta of 1.14.

RLX Technology (NYSE:RLX) last issued its quarterly earnings results on Friday, August 14th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.06). RLX Technology had a return on equity of 6.20% and a net margin of 20.24%. The firm had revenue of $148.73 million during the quarter, compared to analysts’ expectations of $173.99 million.

Institutional Investors Weigh In On RLX Technology

Hedge funds and other institutional investors have recently modified their holdings of the company. Assenagon Asset Management S.A. lifted its position in shares of RLX Technology by 105.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,495,059 shares of the company’s stock worth $2,542,000 after purchasing an additional 767,549 shares during the last quarter. WINTON GROUP Ltd grew its stake in shares of RLX Technology by 177.7% during the second quarter. WINTON GROUP Ltd now owns 117,910 shares of the company’s stock worth $224,000 after purchasing an additional 75,443 shares in the last quarter. Engineers Gate Manager LP purchased a new position in RLX Technology in the second quarter valued at $71,000. Headlands Technologies LLC increased its holdings in RLX Technology by 26.0% in the second quarter. Headlands Technologies LLC now owns 69,479 shares of the company’s stock valued at $132,000 after buying an additional 14,350 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in RLX Technology in the second quarter valued at $674,000. 22.68% of the stock is currently owned by institutional investors and hedge funds.

RLX Technology Company Profile

RLX Technology is a China-based company that develops, manufactures and sells electronic vapor products under the RELX brand. Founded in 2018 by Kate Wang, the company focuses on branded e-cigarettes and related products.

Its offerings include electronic vapor devices, prefilled pods and accessories. RLX also conducts product research and development and supports the manufacturing and distribution of its products.

The company serves customers in China and international markets through retail and distribution channels.