RLX Technology (NYSE:RLX) Shares Gap Down – What’s Next?

Shares of RLX Technology Inc. Sponsored ADR (NYSE:RLX) gapped down prior to trading on Friday . The stock had previously closed at $2.15, but opened at $2.02. RLX Technology shares last traded at $2.0750, with a volume of 1,710,199 shares.

Analyst Upgrades and Downgrades

RLX has been the topic of a number of research reports. Wall Street Zen raised RLX Technology from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of RLX Technology in a research report on Tuesday, April 21st. Finally, Citigroup dropped their price target on RLX Technology from $2.60 to $2.50 and set a “neutral” rating on the stock in a research report on Monday, March 16th. Two analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $2.50.

RLX Technology Trading Down 3.5%

The firm has a fifty day simple moving average of $2.18 and a two-hundred day simple moving average of $2.29. The stock has a market cap of $3.21 billion, a PE ratio of 20.75 and a beta of 1.16.

RLX Technology (NYSE:RLX) last announced its quarterly earnings data on Wednesday, May 20th. The company reported $0.03 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.03. The company had revenue of $230.01 million for the quarter, compared to analysts’ expectations of $166.99 million. RLX Technology had a return on equity of 6.19% and a net margin of 20.76%.

Hedge Funds Weigh In On RLX Technology

A number of large investors have recently bought and sold shares of RLX. Schonfeld Strategic Advisors LLC bought a new stake in shares of RLX Technology during the fourth quarter valued at approximately $26,000. Insigneo Advisory Services LLC purchased a new position in shares of RLX Technology in the fourth quarter worth $29,000. AXQ Capital LP purchased a new position in shares of RLX Technology in the fourth quarter worth $30,000. Dimensional Fund Advisors LP bought a new position in RLX Technology in the first quarter valued at about $32,000. Finally, SmartHarvest Portfolios LLC bought a new position in RLX Technology in the fourth quarter valued at about $40,000. 22.68% of the stock is owned by hedge funds and other institutional investors.

About RLX Technology

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.