Shares of RLX Technology Inc. (NYSE:RLX – Get 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.
RLX Technology Price Performance
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
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.
- Five stocks we like better than RLX Technology
- How to Evaluate a Stock Before Buying
- Why Ambarella’s 20% Decline is a Strong Signal for New Investment
- How to Invest in Cannabis, Step by Step
- Why Analysts Love These 2 Car Sales Platforms, And Avoid Dealers
- How to Invest in Solar Energy
- A Significant Reversal is in Sight for These 5 Med Tech Companies
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.