RLX Technology (NYSE:RLX) Shares Gap Down to $1.91

RLX Technology Inc. (NYSE:RLX)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $1.91, but opened at $1.87. RLX Technology shares last traded at $1.91, with a volume of 161,164 shares changing hands.

Wall Street Analyst Weigh In

RLX has been the topic of several recent research reports. Citigroup upped their price target on shares of RLX Technology from $2.40 to $2.76 and gave the company a “buy” rating in a report on Monday, March 18th. TheStreet upgraded shares of RLX Technology from a “d” rating to a “c-” rating in a research report on Monday, March 18th.

RLX Technology Stock Down 0.8 %

The business’s 50-day simple moving average is $1.90 and its two-hundred day simple moving average is $1.90. The firm has a market cap of $3.06 billion, a price-to-earnings ratio of 38.91 and a beta of 0.98.

RLX Technology (NYSE:RLX) last released its quarterly earnings results on Friday, March 15th. The company reported $0.02 earnings per share for the quarter. RLX Technology had a net margin of 34.74% and a return on equity of 3.32%. The firm had revenue of $73.31 million during the quarter.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. IvyRock Asset Management HK Ltd purchased a new stake in RLX Technology during the 3rd quarter valued at about $151,000. Vanguard Personalized Indexing Management LLC purchased a new stake in RLX Technology during the 3rd quarter valued at about $37,000. Canada Pension Plan Investment Board grew its stake in RLX Technology by 77.9% during the 3rd quarter. Canada Pension Plan Investment Board now owns 2,586,097 shares of the company’s stock valued at $3,905,000 after acquiring an additional 1,132,697 shares in the last quarter. Hsbc Holdings PLC grew its stake in RLX Technology by 120.7% during the 3rd quarter. Hsbc Holdings PLC now owns 115,466 shares of the company’s stock valued at $174,000 after acquiring an additional 63,146 shares in the last quarter. Finally, Rock Creek Group LP purchased a new stake in RLX Technology during the 3rd quarter valued at about $360,000. Institutional investors and hedge funds own 22.68% of the company’s stock.

RLX Technology Company Profile

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.