RLX Technology (NYSE:RLX) Hits New 12-Month Low – Here’s What Happened

RLX Technology Inc. Sponsored ADR (NYSE:RLX)’s stock price reached a new 52-week low during trading on Wednesday. The company traded as low as $1.6429 and last traded at $1.6450, with a volume of 180,167 shares trading hands. The stock had previously closed at $1.68.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Wall Street Zen raised shares of RLX Technology from a “sell” rating to a “hold” rating in a research note on Saturday, September 19th. Weiss Ratings restated a “hold (c)” rating on shares of RLX Technology in a report on Thursday, October 15th. Two investment analysts have rated the stock with a Hold rating. Based on data from MarketBeat, RLX Technology currently has a consensus rating of “Hold” and an average target price of $2.50.

RLX Technology Stock Up 0.9%

The firm has a market cap of $2.63 billion, a price-to-earnings ratio of 16.14 and a beta of 1.14. The firm has a 50 day moving average of $1.77 and a 200 day moving average of $1.95.

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC bought a new position in RLX Technology during the first quarter worth $1,976,000. OLP CAPITAL MANAGEMENT Ltd bought a new stake in RLX Technology in the first quarter valued at $29,013,000. Public Employees Retirement System of Ohio bought a new stake in RLX Technology in the second quarter valued at $674,000. Bank of America Corp DE increased its stake in RLX Technology by 113.0% in the first quarter. Bank of America Corp DE now owns 2,449,708 shares of the company’s stock valued at $5,389,000 after purchasing an additional 1,299,828 shares in the last quarter. Finally, Sei Investments Co. acquired a new position in shares of RLX Technology during the first quarter valued at about $687,000. Institutional investors and hedge funds own 22.68% of the company’s stock.

RLX Technology Company Profile

RLX Technology Inc is a China-based consumer technology company focused on the design, development and sale of vaping products. The company operates primarily through its RELX brand, which offers electronic vaporizer devices, replacement pods and related accessories in a variety of flavors and formats.

Founded in 2018 and headquartered in Beijing, RLX Technology has developed capabilities spanning product research and development, atomization technology, manufacturing, marketing and distribution.