RLX Technology (NYSE:RLX) Upgraded to Hold at Zacks Investment Research

RLX Technology (NYSE:RLX – Get Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday, Zacks.com reports.

According to Zacks, “RLX Technology Inc. is a researcher, develops, manufactures, distributes and sells e-vapor products principally in the People’s Republic of China. RLX Technology Inc. is based in Beijing, China. “

Separately, Citigroup reduced their price target on shares of RLX Technology from $11.50 to $6.00 in a research report on Monday, March 14th.

RLX Technology stock opened at $2.11 on Thursday. The stock has a market cap of $3.28 billion, a P/E ratio of 9.17 and a beta of 0.17. The company has a fifty day simple moving average of $2.53 and a 200-day simple moving average of $3.63. RLX Technology has a 12-month low of $1.16 and a 12-month high of $12.76. The company has a current ratio of 5.10, a quick ratio of 4.88 and a debt-to-equity ratio of 0.01.

RLX Technology (NYSE:RLX – Get Rating) last released its quarterly earnings data on Friday, March 11th. The company reported $0.06 earnings per share (EPS) for the quarter. RLX Technology had a net margin of 23.92% and a return on equity of 15.68%. The business had revenue of $298.84 million during the quarter. As a group, sell-side analysts forecast that RLX Technology will post 0.1 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. American International Group Inc. acquired a new position in RLX Technology in the third quarter valued at $35,000. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new position in RLX Technology in the fourth quarter valued at $40,000. Cubist Systematic Strategies LLC acquired a new position in RLX Technology in the third quarter valued at $45,000. Janney Montgomery Scott LLC acquired a new position in RLX Technology in the fourth quarter valued at $56,000. Finally, PEAK6 Investments LLC acquired a new position in RLX Technology in the fourth quarter valued at $58,000. Institutional investors own 13.80% of the company’s stock.

RLX Technology Company Profile (Get Rating)

RLX Technology Inc, together with its subsidiaries, researchers, develops, manufactures, distributes, and sells e-vapor products in the People's Republic of China. It serves RELX branded partner stores and other retail outlets through distributors. The company was founded in 2018 and is based in Beijing, China.

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