RLX Technology Inc. (NYSE:RLX) Short Interest Update

RLX Technology Inc. (NYSE:RLX) saw a significant decrease in short interest in the month of February. As of February 28th, there was short interest totalling 11,470,000 shares, a decrease of 17.5% from the February 13th total of 13,900,000 shares. Currently, 1.3% of the shares of the company are sold short. Based on an average trading volume of 5,160,000 shares, the days-to-cover ratio is presently 2.2 days.

Hedge Funds Weigh In On RLX Technology

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Centiva Capital LP bought a new stake in shares of RLX Technology during the 3rd quarter valued at about $29,000. Janney Montgomery Scott LLC bought a new position in RLX Technology during the fourth quarter valued at $31,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of RLX Technology in the fourth quarter worth $42,000. Boothbay Fund Management LLC bought a new position in shares of RLX Technology in the fourth quarter worth $43,000. Finally, Catalina Capital Group LLC bought a new stake in RLX Technology during the fourth quarter valued at $63,000. Institutional investors and hedge funds own 22.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Citigroup lowered RLX Technology from a “buy” rating to a “neutral” rating and cut their target price for the company from $2.80 to $2.50 in a research note on Monday.

RLX Technology Stock Performance

RLX traded down $0.08 during midday trading on Wednesday, reaching $2.02. 18,787,544 shares of the company were exchanged, compared to its average volume of 4,611,621. The stock has a market capitalization of $3.17 billion, a P/E ratio of 50.39 and a beta of 0.93. The stock’s 50-day simple moving average is $2.27 and its 200 day simple moving average is $1.97. RLX Technology has a one year low of $1.50 and a one year high of $2.69.

RLX Technology (NYSE:RLX) last posted its quarterly earnings results on Friday, March 14th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.19). The company had revenue of $111.46 million for the quarter, compared to analyst estimates of $764.69 million. RLX Technology had a return on equity of 2.48% and a net margin of 15.70%.

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.