RLX Technology (NYSE:RLX) Trading 5.6% Higher

Shares of RLX Technology Inc. (NYSE:RLXGet Free Report) traded up 5.6% during trading on Tuesday . The company traded as high as $1.53 and last traded at $1.52. 568,656 shares changed hands during mid-day trading, a decline of 94% from the average session volume of 9,236,996 shares. The stock had previously closed at $1.44.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Citigroup dropped their price target on RLX Technology from $3.15 to $2.40 in a research note on Friday, August 18th. UBS Group assumed coverage on RLX Technology in a research note on Tuesday, August 8th. They set a “buy” rating and a $2.60 target price for the company.

Get Our Latest Stock Report on RLX Technology

RLX Technology Price Performance

The stock has a market cap of $2.48 billion, a price-to-earnings ratio of 52.67 and a beta of 0.82. The company has a 50 day simple moving average of $1.63 and a 200 day simple moving average of $2.08.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Nuveen Asset Management LLC boosted its holdings in RLX Technology by 4.7% in the second quarter. Nuveen Asset Management LLC now owns 472,400 shares of the company’s stock valued at $836,000 after acquiring an additional 21,000 shares during the last quarter. GTS Securities LLC bought a new stake in RLX Technology in the second quarter valued at approximately $151,000. Goldman Sachs Group Inc. boosted its holdings in RLX Technology by 13.5% in the second quarter. Goldman Sachs Group Inc. now owns 50,677,512 shares of the company’s stock valued at $89,699,000 after acquiring an additional 6,019,179 shares during the last quarter. Point72 Asset Management L.P. boosted its holdings in RLX Technology by 904.8% in the second quarter. Point72 Asset Management L.P. now owns 1,355,300 shares of the company’s stock valued at $2,399,000 after acquiring an additional 1,220,419 shares during the last quarter. Finally, Point72 Hong Kong Ltd boosted its holdings in shares of RLX Technology by 663.8% during the 2nd quarter. Point72 Hong Kong Ltd now owns 2,736,523 shares of the company’s stock worth $4,844,000 after buying an additional 2,378,223 shares in the last quarter. Institutional investors and hedge funds own 22.68% of the company’s stock.

RLX Technology Company Profile

(Get Free Report)

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

Recommended Stories

Receive News & Ratings for RLX Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RLX Technology and related companies with MarketBeat.com's FREE daily email newsletter.