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

Wall Street Zen upgraded shares of RLX Technology (NYSE:RLX) from a sell rating to a hold rating in a research note published on Saturday morning.

Separately, Citigroup reduced their price objective on RLX Technology from $2.50 to $2.25 and set a “neutral” rating on the stock in a research note on Monday, May 19th.

RLX Technology Trading Up 1.6%

Shares of NYSE:RLX opened at $2.19 on Friday. The stock’s 50-day moving average price is $1.92 and its 200-day moving average price is $2.06. RLX Technology has a 12-month low of $1.50 and a 12-month high of $2.69. The stock has a market capitalization of $3.43 billion, a P/E ratio of 54.64 and a beta of 1.07.

RLX Technology (NYSE:RLX) last announced its quarterly earnings data on Friday, May 16th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.15). RLX Technology had a net margin of 15.70% and a return on equity of 2.48%. The company had revenue of $111.35 million for the quarter, compared to the consensus estimate of $763.38 million.

Institutional Trading of RLX Technology

Several large investors have recently modified their holdings of the business. First Beijing Investment Ltd grew its stake in shares of RLX Technology by 75.6% in the first quarter. First Beijing Investment Ltd now owns 41,036,045 shares of the company’s stock worth $77,148,000 after purchasing an additional 17,661,160 shares during the last quarter. Nomura Holdings Inc. grew its stake in shares of RLX Technology by 54.3% in the first quarter. Nomura Holdings Inc. now owns 5,555,303 shares of the company’s stock worth $10,444,000 after purchasing an additional 1,954,316 shares during the last quarter. Canada Pension Plan Investment Board grew its stake in shares of RLX Technology by 49,495,580.0% in the first quarter. Canada Pension Plan Investment Board now owns 2,474,784 shares of the company’s stock worth $4,653,000 after purchasing an additional 2,474,779 shares during the last quarter. BRIGHT VALLEY CAPITAL Ltd grew its stake in shares of RLX Technology by 7.5% in the first quarter. BRIGHT VALLEY CAPITAL Ltd now owns 9,605,371 shares of the company’s stock worth $18,058,000 after purchasing an additional 671,639 shares during the last quarter. Finally, Ground Swell Capital LLC bought a new stake in shares of RLX Technology in the first quarter worth about $47,000. 22.68% of the stock is owned by institutional investors.

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.