RLX Technology (NYSE:RLX) Shares Up 5.5% – Still a Buy?

RLX Technology Inc. Sponsored ADR (NYSE:RLX)’s stock price shot up 5.5% on Wednesday . The company traded as high as $2.01 and last traded at $2.0050. Approximately 960,369 shares changed hands during trading, a decline of 62% from the average daily volume of 2,533,799 shares. The stock had previously closed at $1.90.

Analyst Upgrades and Downgrades

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

RLX Technology Stock Up 3.9%

The business’s 50 day simple moving average is $2.03 and its 200 day simple moving average is $2.19. The stock has a market cap of $3.06 billion, a price-to-earnings ratio of 19.75 and a beta of 1.16.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in RLX. Schonfeld Strategic Advisors LLC acquired a new position in shares of RLX Technology during the 4th quarter worth approximately $26,000. Insigneo Advisory Services LLC bought a new position in RLX Technology during the fourth quarter worth $29,000. AXQ Capital LP bought a new position in shares of RLX Technology in the fourth quarter valued at about $30,000. Dimensional Fund Advisors LP acquired a new stake in shares of RLX Technology during the 1st quarter worth about $32,000. Finally, SmartHarvest Portfolios LLC bought a new stake in shares of RLX Technology during the 4th quarter worth about $40,000. 22.68% of the stock is currently owned by 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.