RLX Technology (NYSE:RLX) Shares Down 3.3% – Time to Sell?

RLX Technology Inc. Sponsored ADR (NYSE:RLX)’s stock price dropped 3.3% on Friday . The stock traded as low as $2.52 and last traded at $2.52. Approximately 177,609 shares traded hands during mid-day trading, a decline of 96% from the average daily volume of 4,518,814 shares. The stock had previously closed at $2.60.

Analyst Upgrades and Downgrades

RLX has been the subject of several research analyst reports. Wall Street Zen upgraded shares of RLX Technology from a “sell” rating to a “hold” rating in a research note on Saturday, August 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of RLX Technology in a research note on Saturday, September 27th. Two analysts have rated the stock with a Hold rating, According to MarketBeat, RLX Technology presently has an average rating of “Hold” and a consensus target price of $2.25.

RLX Technology Stock Performance

The firm has a market cap of $3.97 billion, a P/E ratio of 36.08 and a beta of 1.10. The stock’s 50 day simple moving average is $2.42 and its 200 day simple moving average is $2.16.

RLX Technology (NYSE:RLX) last announced its quarterly earnings results on Friday, August 22nd. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.16). The business had revenue of $122.88 million for the quarter, compared to the consensus estimate of $725.00 million. RLX Technology had a net margin of 22.32% and a return on equity of 4.54%.

RLX Technology Dividend Announcement

The firm also recently declared an annual dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were paid a dividend of $0.01 per share. This represents a yield of 38.0%. The ex-dividend date was Friday, September 12th. RLX Technology’s payout ratio is 14.29%.

Institutional Trading of RLX Technology

Hedge funds and other institutional investors have recently bought and sold shares of the business. BRIGHT VALLEY CAPITAL Ltd increased its stake in RLX Technology by 7.5% during the 1st quarter. BRIGHT VALLEY CAPITAL Ltd now owns 9,605,371 shares of the company’s stock valued at $18,058,000 after purchasing an additional 671,639 shares in the last quarter. Nuveen LLC bought a new stake in shares of RLX Technology in the 1st quarter worth $597,000. Canada Pension Plan Investment Board grew its stake in shares of RLX Technology by 49,495,580.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 2,474,784 shares of the company’s stock worth $4,653,000 after acquiring an additional 2,474,779 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of RLX Technology in the 2nd quarter worth $1,282,000. Finally, Vanguard Group Inc. grew its stake in shares of RLX Technology by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 27,935,598 shares of the company’s stock worth $52,519,000 after acquiring an additional 156,350 shares in the last quarter. Institutional investors 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.