RLX Technology (NYSE:RLX) Upgraded by Wall Street Zen to Hold Rating

RLX Technology (NYSE:RLX) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Sunday.

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of RLX Technology in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $2.25.

RLX Technology Trading Down 0.8%

RLX stock opened at $2.46 on Friday. The firm’s 50-day moving average is $2.45 and its two-hundred day moving average is $2.30. The company has a market capitalization of $3.86 billion, a price-to-earnings ratio of 35.14 and a beta of 1.10. RLX Technology has a 52 week low of $1.66 and a 52 week high of $2.84.

RLX Technology (NYSE:RLX) last posted its quarterly earnings data on Friday, November 14th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The company had revenue of $158.63 million for the quarter, compared to analyst estimates of $139.99 million. RLX Technology had a net margin of 21.05% and a return on equity of 4.74%.

Institutional Investors Weigh In On RLX Technology

Several hedge funds have recently modified their holdings of RLX. Ground Swell Capital LLC purchased a new position in RLX Technology in the 1st quarter worth about $47,000. Headlands Technologies LLC increased its position in shares of RLX Technology by 411.8% in the first quarter. Headlands Technologies LLC now owns 25,766 shares of the company’s stock worth $48,000 after acquiring an additional 20,732 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in shares of RLX Technology in the third quarter worth approximately $60,000. Cresset Asset Management LLC acquired a new stake in shares of RLX Technology during the third quarter valued at approximately $66,000. Finally, Brevan Howard Capital Management LP purchased a new stake in shares of RLX Technology in the 3rd quarter valued at approximately $73,000. 22.68% of the stock is owned by hedge funds and other institutional investors.

About RLX Technology

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.