RLX Technology (NYSE:RLX) Reaches New 12-Month Low – What’s Next?

RLX Technology Inc. Sponsored ADR (NYSE:RLX)’s share price reached a new 52-week low on Tuesday . The stock traded as low as $1.76 and last traded at $1.7850, with a volume of 215586 shares traded. The stock had previously closed at $1.81.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on RLX shares. Weiss Ratings reiterated a “hold (c)” rating on shares of RLX Technology in a research note on Friday, July 17th. Wall Street Zen downgraded RLX Technology from a “hold” rating to a “sell” rating in a research note on Saturday, August 22nd. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, RLX Technology presently has an average rating of “Hold” and an average target price of $2.50.

RLX Technology Stock Performance

The company has a market capitalization of $2.78 billion, a P/E ratio of 17.10 and a beta of 1.20. The stock has a 50 day moving average price of $1.94 and a 200 day moving average price of $2.10.

RLX Technology (NYSE:RLX) last posted its quarterly earnings results on Friday, August 14th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.06). RLX Technology had a net margin of 20.24% and a return on equity of 6.20%. The company had revenue of $148.73 million for the quarter, compared to the consensus estimate of $173.99 million.

Institutional Investors Weigh In On RLX Technology

A number of hedge funds have recently modified their holdings of the stock. Marshall Wace LLP grew its holdings in RLX Technology by 29.3% during the second quarter. Marshall Wace LLP now owns 1,133,093 shares of the company’s stock valued at $2,504,000 after purchasing an additional 257,103 shares during the period. Canada Pension Plan Investment Board grew its stake in shares of RLX Technology by 53.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 3,804,284 shares of the company’s stock worth $8,407,000 after acquiring an additional 1,329,500 shares during the period. Tower Research Capital LLC TRC increased its holdings in RLX Technology by 308.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 54,064 shares of the company’s stock worth $119,000 after acquiring an additional 40,819 shares during the last quarter. JPMorgan Chase & Co. raised its stake in RLX Technology by 11,091.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 808,589 shares of the company’s stock valued at $2,127,000 after acquiring an additional 801,364 shares during the period. Finally, Cresset Asset Management LLC purchased a new stake in RLX Technology during the third quarter valued at about $66,000. Institutional investors own 22.68% of the company’s stock.

RLX Technology Company Profile

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.