RLX Technology Inc. Sponsored ADR $RLX is Perseverance Asset Management International’s 6th Largest Position

Perseverance Asset Management International raised its holdings in shares of RLX Technology Inc. Sponsored ADR (NYSE:RLX) by 4.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,790,928 shares of the company’s stock after buying an additional 325,361 shares during the period. RLX Technology comprises 2.7% of Perseverance Asset Management International’s portfolio, making the stock its 6th largest holding. Perseverance Asset Management International’s holdings in RLX Technology were worth $18,153,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in RLX. AXQ Capital LP purchased a new stake in shares of RLX Technology in the fourth quarter worth $30,000. SmartHarvest Portfolios LLC purchased a new stake in shares of RLX Technology in the fourth quarter worth $40,000. BNP Paribas Financial Markets purchased a new stake in shares of RLX Technology in the third quarter worth $60,000. Cresset Asset Management LLC purchased a new stake in shares of RLX Technology in the third quarter worth $66,000. Finally, Brevan Howard Capital Management LP purchased a new stake in shares of RLX Technology in the third quarter worth $73,000. 22.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RLX has been the subject of a number of analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of RLX Technology in a research note on Tuesday, April 21st. Citigroup reduced their price objective on shares of RLX Technology from $2.60 to $2.50 and set a “neutral” rating for the company in a research note on Monday, March 16th. Finally, Wall Street Zen raised shares of RLX Technology from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $2.50.

RLX Technology Stock Performance

RLX opened at $2.03 on Friday. The stock has a market capitalization of $3.14 billion, a price-to-earnings ratio of 20.25 and a beta of 1.13. The company has a fifty day moving average of $2.12 and a 200 day moving average of $2.25. RLX Technology Inc. Sponsored ADR has a fifty-two week low of $1.96 and a fifty-two week high of $2.84.

RLX Technology (NYSE:RLX) last posted its earnings results on Wednesday, May 20th. The company reported $0.03 earnings per share for the quarter, meeting the consensus estimate of $0.03. The company had revenue of $230.01 million during the quarter, compared to analysts’ expectations of $166.99 million. RLX Technology had a net margin of 20.76% and a return on equity of 6.15%.

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.