Yong Rong HK Asset Management Ltd Increases Stock Position in RLX Technology Inc. (NYSE:RLX)

Yong Rong HK Asset Management Ltd boosted its holdings in RLX Technology Inc. (NYSE:RLX) by 5.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,000,000 shares of the company’s stock after purchasing an additional 100,000 shares during the quarter. RLX Technology comprises 1.5% of Yong Rong HK Asset Management Ltd’s investment portfolio, making the stock its 13th largest holding. Yong Rong HK Asset Management Ltd owned 0.13% of RLX Technology worth $4,000,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Nomura Holdings Inc. grew its stake in shares of RLX Technology by 118.9% in the 3rd quarter. Nomura Holdings Inc. now owns 15,974,504 shares of the company’s stock valued at $24,122,000 after purchasing an additional 8,677,765 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in RLX Technology by 77.9% in the 3rd quarter. Canada Pension Plan Investment Board now owns 2,586,097 shares of the company’s stock valued at $3,905,000 after buying an additional 1,132,697 shares during the period. Vanguard Group Inc. raised its holdings in RLX Technology by 1.9% during the third quarter. Vanguard Group Inc. now owns 31,061,726 shares of the company’s stock worth $46,903,000 after purchasing an additional 578,728 shares in the last quarter. SCEP Management Ltd lifted its position in RLX Technology by 25.0% in the third quarter. SCEP Management Ltd now owns 2,500,000 shares of the company’s stock valued at $3,775,000 after purchasing an additional 500,000 shares during the period. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new stake in RLX Technology in the fourth quarter valued at about $705,000. Institutional investors and hedge funds own 22.68% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on RLX. Citigroup raised their price target on RLX Technology from $2.40 to $2.76 and gave the company a “buy” rating in a report on Monday, March 18th. TheStreet raised RLX Technology from a “d” rating to a “c-” rating in a report on Monday, March 18th.

RLX Technology Stock Performance

RLX traded up $0.01 on Wednesday, hitting $1.95. 879,872 shares of the company were exchanged, compared to its average volume of 5,681,833. The business’s fifty day moving average is $1.90 and its 200 day moving average is $1.90. RLX Technology Inc. has a fifty-two week low of $1.39 and a fifty-two week high of $2.51. The firm has a market capitalization of $3.06 billion, a P/E ratio of 38.90 and a beta of 0.98.

RLX Technology (NYSE:RLX) last released its quarterly earnings results on Friday, March 15th. The company reported $0.02 earnings per share for the quarter. The business had revenue of $73.31 million for the quarter. RLX Technology had a return on equity of 3.32% and a net margin of 34.74%.

RLX Technology Company Profile

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.