Public Employees Retirement System of Ohio Invests $674,000 in RLX Technology Inc. Sponsored ADR $RLX

Public Employees Retirement System of Ohio bought a new stake in shares of RLX Technology Inc. Sponsored ADR (NYSE:RLX) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 354,811 shares of the company’s stock, valued at approximately $674,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Schonfeld Strategic Advisors LLC bought a new stake in RLX Technology during the fourth quarter worth approximately $26,000. Insigneo Advisory Services LLC bought a new stake in shares of RLX Technology in the 4th quarter valued at approximately $29,000. AXQ Capital LP purchased a new position in shares of RLX Technology in the 4th quarter worth approximately $30,000. Dimensional Fund Advisors LP purchased a new position in shares of RLX Technology in the 1st quarter worth approximately $32,000. Finally, SmartHarvest Portfolios LLC bought a new position in shares of RLX Technology during the 4th quarter valued at approximately $40,000. Hedge funds and other institutional investors own 22.68% of the company’s stock.

RLX Technology Price Performance

Shares of NYSE RLX opened at $1.76 on Thursday. The company has a market cap of $2.73 billion, a P/E ratio of 16.81 and a beta of 1.16. RLX Technology Inc. Sponsored ADR has a 1 year low of $1.74 and a 1 year high of $2.72. The firm has a 50-day simple moving average of $1.92 and a two-hundred day simple moving average of $2.06.

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Weiss Ratings restated a “hold (c)” rating on shares of RLX Technology in a report on Friday, July 17th. Wall Street Zen cut shares of RLX Technology from a “hold” rating to a “sell” rating in a research report on Saturday, August 22nd. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $2.50.

RLX Technology 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.