RLX Technology (NYSE:RLX) Stock Rating Upgraded by Wall Street Zen

RLX Technology (NYSE:RLX) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Sunday.

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of RLX Technology in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, RLX Technology presently has an average rating of “Hold” and a consensus price target of $2.25.

RLX Technology Price Performance

RLX stock opened at $2.46 on Friday. RLX Technology has a 1 year low of $1.66 and a 1 year high of $2.84. The company has a market cap of $3.86 billion, a P/E ratio of 35.07 and a beta of 1.10. The stock’s fifty day moving average price is $2.44 and its 200-day moving average price is $2.31.

RLX Technology (NYSE:RLX) last posted its quarterly earnings data on Friday, November 14th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The firm had revenue of $158.63 million for the quarter, compared to analysts’ expectations of $139.99 million. RLX Technology had a net margin of 21.05% and a return on equity of 4.74%.

Institutional Investors Weigh In On RLX Technology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in RLX Technology by 0.6% during the first quarter. Vanguard Group Inc. now owns 27,935,598 shares of the company’s stock valued at $52,519,000 after purchasing an additional 156,350 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of RLX Technology by 10.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 866,827 shares of the company’s stock valued at $1,630,000 after purchasing an additional 82,413 shares during the period. Headlands Technologies LLC lifted its stake in shares of RLX Technology by 411.8% during the 1st quarter. Headlands Technologies LLC now owns 25,766 shares of the company’s stock valued at $48,000 after buying an additional 20,732 shares in the last quarter. Hosking Partners LLP boosted its holdings in RLX Technology by 113.3% in the 1st quarter. Hosking Partners LLP now owns 2,093,781 shares of the company’s stock worth $3,936,000 after buying an additional 1,112,248 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in RLX Technology by 73.6% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,390,852 shares of the company’s stock worth $2,615,000 after buying an additional 589,748 shares during the period. 22.68% of the stock is owned by hedge funds and other 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.