RLX Technology (NYSE:RLX) Shares Up 4.8% – Here’s Why

Shares of RLX Technology Inc. (NYSE:RLX) rose 4.8% during mid-day trading on Wednesday . The company traded as high as $2.06 and last traded at $2.06. Approximately 1,856,853 shares were traded during mid-day trading, a decline of 60% from the average daily volume of 4,672,406 shares. The stock had previously closed at $1.96.

RLX Technology Trading Up 4.3 %

The business’s fifty day moving average price is $1.76 and its 200 day moving average price is $1.75. The company has a market capitalization of $3.21 billion, a P/E ratio of 51.14 and a beta of 1.03.

RLX Technology Dividend Announcement

The firm also recently declared an annual dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a dividend of $0.01 per share. This represents a yield of 0.59%. The ex-dividend date of this dividend is Friday, December 6th. RLX Technology’s dividend payout ratio is 25.00%.

Institutional Investors Weigh In On RLX Technology

Large investors have recently modified their holdings of the stock. First Beijing Investment Ltd boosted its stake in RLX Technology by 33.6% in the 3rd quarter. First Beijing Investment Ltd now owns 28,440,248 shares of the company’s stock valued at $51,477,000 after buying an additional 7,159,064 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of RLX Technology in the 3rd quarter valued at $2,386,000. Point72 Asset Management L.P. grew its holdings in shares of RLX Technology by 8,292.2% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,313,300 shares of the company’s stock worth $2,377,000 after purchasing an additional 1,297,651 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of RLX Technology by 58.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 612,067 shares of the company’s stock worth $1,108,000 after purchasing an additional 225,200 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in RLX Technology during the 3rd quarter valued at about $221,000. 22.68% of the stock is currently owned by 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.