Point72 Hong Kong Ltd Increases Stock Position in RLX Technology Inc. (NYSE:RLX)

Point72 Hong Kong Ltd grew its holdings in shares of RLX Technology Inc. (NYSE:RLX) by 11.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,463,092 shares of the company’s stock after buying an additional 145,100 shares during the period. Point72 Hong Kong Ltd owned 0.09% of RLX Technology worth $3,160,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in RLX. Franklin Resources Inc. lifted its position in RLX Technology by 14.5% during the third quarter. Franklin Resources Inc. now owns 293,830 shares of the company’s stock valued at $497,000 after buying an additional 37,294 shares during the period. Barclays PLC lifted its position in RLX Technology by 5.0% in the 3rd quarter. Barclays PLC now owns 110,471 shares of the company’s stock valued at $200,000 after acquiring an additional 5,267 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of RLX Technology by 7.6% during the fourth quarter. SG Americas Securities LLC now owns 303,215 shares of the company’s stock valued at $655,000 after purchasing an additional 21,476 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of RLX Technology during the 4th quarter valued at about $31,000. Finally, Catalina Capital Group LLC bought a new stake in RLX Technology in the 4th quarter worth approximately $63,000. 22.68% of the stock is currently owned by institutional investors.

RLX Technology Trading Up 1.6%

NYSE RLX opened at $1.93 on Thursday. RLX Technology Inc. has a 12 month low of $1.50 and a 12 month high of $2.69. The stock has a market cap of $3.03 billion, a price-to-earnings ratio of 48.26 and a beta of 1.03. The company’s 50 day moving average is $1.89 and its two-hundred day moving average is $2.00.

RLX Technology (NYSE:RLX) last released its earnings results on Friday, March 14th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.19). RLX Technology had a return on equity of 2.48% and a net margin of 15.70%. The firm had revenue of $111.46 million for the quarter, compared to the consensus estimate of $764.69 million.

Wall Street Analysts Forecast Growth

Separately, Citigroup cut shares of RLX Technology from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $2.80 to $2.50 in a research note on Monday, March 17th.

RLX Technology 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.