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

RLX Technology (NYSE:RLX) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

A number of other equities analysts have also issued reports on RLX. Citigroup reduced their price target on shares of RLX Technology from $2.60 to $2.50 and set a “neutral” rating for the company in a research report on Monday, March 16th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of RLX Technology in a report on Thursday, January 22nd. Two analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $2.50.

RLX Technology Stock Performance

RLX Technology stock opened at $2.13 on Friday. The business’s 50-day simple moving average is $2.31 and its two-hundred day simple moving average is $2.38. The company has a market cap of $3.34 billion, a PE ratio of 23.61 and a beta of 1.11. RLX Technology has a fifty-two week low of $1.66 and a fifty-two week high of $2.84.

RLX Technology (NYSE:RLX) last announced its quarterly earnings data on Saturday, February 14th. The company reported $0.03 earnings per share (EPS) for the quarter. The firm had revenue of $163.13 million during the quarter. RLX Technology had a return on equity of 5.74% and a net margin of 23.27%.

RLX Technology declared that its board has authorized a share repurchase program on Wednesday, December 31st that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. XTX Topco Ltd raised its position in RLX Technology by 242.1% during the second quarter. XTX Topco Ltd now owns 333,267 shares of the company’s stock worth $737,000 after acquiring an additional 235,844 shares during the period. Quadrature Capital Ltd increased its stake in shares of RLX Technology by 229.0% during the second quarter. Quadrature Capital Ltd now owns 88,297 shares of the company’s stock worth $195,000 after purchasing an additional 61,459 shares in the last quarter. Marshall Wace LLP raised its position in shares of RLX Technology by 29.3% during the 2nd quarter. Marshall Wace LLP now owns 1,133,093 shares of the company’s stock worth $2,504,000 after purchasing an additional 257,103 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in 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 valued at $8,407,000 after buying an additional 1,329,500 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in RLX Technology by 308.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 54,064 shares of the company’s stock worth $119,000 after buying an additional 40,819 shares during the last quarter. 22.68% of the stock is owned by institutional investors and hedge funds.

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.