RLX Technology (NYSE:RLX) Stock Rating Lowered by Wall Street Zen

RLX Technology (NYSE:RLX) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of RLX Technology in a research report on Friday, July 17th. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, RLX Technology presently has an average rating of “Hold” and a consensus target price of $2.50.

RLX Technology Price Performance

NYSE RLX opened at $1.81 on Friday. The stock has a market capitalization of $2.80 billion, a price-to-earnings ratio of 17.24 and a beta of 1.20. RLX Technology has a 1-year low of $1.76 and a 1-year high of $2.84. The business’s fifty day moving average price is $1.95 and its 200-day moving average price is $2.11.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. OLP CAPITAL MANAGEMENT Ltd bought a new position in RLX Technology in the 1st quarter worth $29,013,000. Renaissance Technologies LLC bought a new stake in RLX Technology during the first quarter valued at about $1,976,000. Perseverance Asset Management International grew its holdings in RLX Technology by 4.4% during the fourth quarter. Perseverance Asset Management International now owns 7,790,928 shares of the company’s stock valued at $18,153,000 after purchasing an additional 325,361 shares during the period. Sei Investments Co. bought a new stake in RLX Technology during the first quarter valued at about $687,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in RLX Technology in the first quarter worth about $567,000. Hedge funds and other 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.