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

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

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

RLX Technology Price Performance

Shares of NYSE:RLX opened at $2.28 on Friday. RLX Technology has a 1 year low of $1.66 and a 1 year high of $2.84. The stock has a market capitalization of $3.57 billion, a price-to-earnings ratio of 32.50 and a beta of 1.09. The company’s 50 day simple moving average is $2.39 and its 200 day simple moving average is $2.37.

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

Institutional Trading of RLX Technology

A number of hedge funds have recently made changes to their positions in the company. Nuveen LLC acquired a new stake in RLX Technology during the 1st quarter worth approximately $597,000. Canada Pension Plan Investment Board raised its stake in shares of RLX Technology by 49,495,580.0% during the first quarter. Canada Pension Plan Investment Board now owns 2,474,784 shares of the company’s stock valued at $4,653,000 after acquiring an additional 2,474,779 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in shares of RLX Technology by 73.8% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 40,168 shares of the company’s stock worth $89,000 after purchasing an additional 17,060 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of RLX Technology in the second quarter worth $1,282,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in RLX Technology by 15.3% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,603,605 shares of the company’s stock valued at $3,544,000 after purchasing an additional 212,753 shares during the period. 22.68% of the stock is owned by institutional investors and hedge funds.

About RLX Technology

RLX Technology Inc (NYSE:RLX) is a China-based company specializing in electronic nicotine delivery systems. The company develops, manufactures and markets closed-pod vaping devices and prefilled cartridges, positioning its products as an alternative to traditional combustible tobacco. RLX emphasizes consistent nicotine delivery, flavor variety and convenience through its proprietary e-liquid formulations and device design.

RLX operates a vertically integrated business model that encompasses research and development, production, quality control and sales.