RLX Technology (NYSE:RLX) Trading Down 8.8% – Time to Sell?

RLX Technology Inc. (NYSE:RLX) shares dropped 8.8% on Monday . The stock traded as low as $2.22 and last traded at $2.22. Approximately 3,536,386 shares changed hands during mid-day trading, a decline of 29% from the average daily volume of 4,998,021 shares. The stock had previously closed at $2.43.

RLX Technology Stock Up 3.8 %

The company has a 50 day simple moving average of $2.21 and a 200 day simple moving average of $1.90. The company has a market capitalization of $3.68 billion, a price-to-earnings ratio of 58.64 and a beta of 0.97.

Institutional Trading of RLX Technology

Several large investors have recently bought and sold shares of RLX. Centiva Capital LP purchased a new position in shares of RLX Technology in the third quarter valued at $29,000. Janney Montgomery Scott LLC purchased a new stake in RLX Technology during the 4th quarter worth $31,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in RLX Technology in the 4th quarter worth $42,000. Boothbay Fund Management LLC purchased a new position in RLX Technology in the 4th quarter valued at about $43,000. Finally, Catalina Capital Group LLC purchased a new position in RLX Technology in the 4th quarter valued at about $63,000. Institutional investors and hedge funds own 22.68% of the company’s stock.

About RLX Technology

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.