257,918 Shares in RLX Technology Inc. Sponsored ADR $RLX Purchased by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of RLX Technology Inc. Sponsored ADR (NYSE:RLX) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 257,918 shares of the company’s stock, valued at approximately $567,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Pictet Asset Management Holding SA grew its holdings in shares of RLX Technology by 1,517.6% in the 1st quarter. Pictet Asset Management Holding SA now owns 3,752,344 shares of the company’s stock worth $8,255,000 after acquiring an additional 3,520,377 shares during the period. Mackenzie Financial Corp purchased a new stake in RLX Technology during the third quarter worth $7,900,000. Mariner LLC grew its holdings in RLX Technology by 7,564.1% in the third quarter. Mariner LLC now owns 1,668,476 shares of the company’s stock valued at $4,388,000 after purchasing an additional 1,646,706 shares during the last quarter. Capitolis Liquid Global Markets LLC acquired a new stake in RLX Technology in the fourth quarter valued at $3,519,000. Finally, Canada Pension Plan Investment Board increased its position in shares of RLX Technology by 53.7% in the second quarter. Canada Pension Plan Investment Board now owns 3,804,284 shares of the company’s stock valued at $8,407,000 after buying an additional 1,329,500 shares in the last quarter. 22.68% of the stock is owned by hedge funds and other institutional investors.

RLX Technology Stock Up 0.2%

NYSE RLX opened at $2.04 on Friday. RLX Technology Inc. Sponsored ADR has a fifty-two week low of $1.76 and a fifty-two week high of $2.84. The business has a fifty day moving average of $2.00 and a 200-day moving average of $2.17. The stock has a market cap of $3.15 billion, a price-to-earnings ratio of 20.35 and a beta of 1.16.

RLX Technology (NYSE:RLX) last posted its quarterly earnings data on Wednesday, May 20th. The company reported $0.03 EPS for the quarter, hitting analysts’ consensus estimates of $0.03. The firm had revenue of $230.01 million during the quarter, compared to analysts’ expectations of $166.99 million. RLX Technology had a return on equity of 6.15% and a net margin of 20.76%.

Wall Street Analyst Weigh In

RLX has been the subject of several research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of RLX Technology in a research note on Tuesday, April 21st. Wall Street Zen raised shares of RLX Technology from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $2.50.

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.