Aspex Management HK Ltd Reduces Holdings in RLX Technology Inc. Sponsored ADR $RLX

Aspex Management HK Ltd lowered its stake in RLX Technology Inc. Sponsored ADR (NYSE:RLX) by 34.8% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,901,172 shares of the company’s stock after selling 4,222,237 shares during the quarter. RLX Technology makes up about 0.4% of Aspex Management HK Ltd’s holdings, making the stock its 19th biggest position. Aspex Management HK Ltd owned about 0.50% of RLX Technology worth $20,780,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Mackenzie Financial Corp bought a new stake in shares of RLX Technology in the 3rd quarter worth $7,900,000. Canada Pension Plan Investment Board grew its stake in shares of RLX Technology by 53.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 3,804,284 shares of the company’s stock worth $8,407,000 after purchasing an additional 1,329,500 shares during the last quarter. Marshall Wace LLP boosted its holdings in RLX Technology by 82.4% during the third quarter. Marshall Wace LLP now owns 2,067,228 shares of the company’s stock worth $5,437,000 after buying an additional 934,135 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of RLX Technology in the third quarter valued at $2,388,000. Finally, JPMorgan Chase & Co. lifted its position in shares of RLX Technology by 11,091.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 808,589 shares of the company’s stock valued at $2,127,000 after acquiring an additional 801,364 shares during the last quarter. Hedge funds and other institutional investors own 22.68% of the company’s stock.

RLX Technology Stock Performance

Shares of NYSE RLX opened at $2.25 on Friday. The business’s 50-day simple moving average is $2.33 and its 200-day simple moving average is $2.40. RLX Technology Inc. Sponsored ADR has a 52 week low of $1.66 and a 52 week high of $2.84. The firm has a market cap of $3.53 billion, a price-to-earnings ratio of 32.07 and a beta of 1.11.

RLX Technology announced that its board has initiated a stock buyback program on Wednesday, December 31st that permits the company to buyback $0.00 in shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

RLX has been the topic of a number of recent research reports. Weiss Ratings restated a “hold (c)” rating on shares of RLX Technology in a report on Thursday, January 22nd. Wall Street Zen upgraded RLX Technology from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, RLX Technology presently has a consensus rating of “Hold” and an average target price of $2.25.

RLX Technology Company Profile

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.