RLX Technology (NYSE:RLX) Shares Gap Down Following Weak Earnings

RLX Technology Inc. (NYSE:RLXGet Free Report)’s stock price gapped down before the market opened on Friday following a weaker than expected earnings announcement. The stock had previously closed at $2.35, but opened at $2.29. RLX Technology shares last traded at $2.26, with a volume of 2,749,902 shares traded.

The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.19). RLX Technology had a net margin of 15.70% and a return on equity of 2.48%.

Institutional Trading of RLX Technology

Several hedge funds have recently modified their holdings of the stock. Centiva Capital LP bought a new position in RLX Technology in the 3rd quarter worth approximately $29,000. Janney Montgomery Scott LLC acquired a new stake in shares of RLX Technology in the 4th quarter valued at $31,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of RLX Technology during the fourth quarter worth $42,000. Boothbay Fund Management LLC bought a new stake in shares of RLX Technology during the fourth quarter worth $43,000. Finally, Catalina Capital Group LLC acquired a new position in shares of RLX Technology during the fourth quarter valued at $63,000. 22.68% of the stock is owned by institutional investors.

RLX Technology Stock Down 3.2 %

The firm has a fifty day moving average of $2.28 and a 200-day moving average of $1.95. The firm has a market cap of $3.57 billion, a P/E ratio of 56.44 and a beta of 0.93.

RLX Technology Company Profile

(Get Free Report)

RLX Technology Inc, together with its subsidiaries, engages in the manufacture and sale of e-vapor products in the People's Republic of China and internationally. It serves partner distributors and retail outlets. The company was founded in 2018 and is headquartered in Beijing, China.

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