Stock Traders Purchase High Volume of RLX Technology Call Options (NYSE:RLX)

RLX Technology Inc. Sponsored ADR (NYSE:RLX) was the recipient of unusually large options trading activity on Wednesday. Stock investors purchased 2,642 call options on the stock. This represents an increase of 1,019% compared to the typical volume of 236 call options.

RLX Technology Stock Performance

Shares of RLX Technology stock traded up $0.02 on Wednesday, reaching $2.31. 3,286,509 shares of the stock were exchanged, compared to its average volume of 2,267,036. The firm has a market cap of $3.62 billion, a PE ratio of 32.93 and a beta of 1.10. The firm’s 50 day moving average is $2.37 and its 200-day moving average is $2.38. RLX Technology has a one year low of $1.66 and a one year high of $2.84.

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

RLX Technology Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Monday, February 9th. Stockholders of record on Monday, January 26th will be issued a dividend of $0.10 per share. This is an increase from RLX Technology’s previous annual dividend of $0.01. The ex-dividend date of this dividend is Monday, January 26th. This represents a dividend yield of 390.0%. RLX Technology’s payout ratio is presently 14.29%.

RLX Technology announced that its Board of Directors has authorized a stock repurchase program on Wednesday, December 31st that allows the company to buyback $0.00 in shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of RLX Technology in a research note on Wednesday, October 8th. Wall Street Zen upgraded RLX Technology from a “sell” rating to a “hold” rating in a research note on Monday. Two research analysts have rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $2.25.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its position in RLX Technology by 11,091.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 808,589 shares of the company’s stock worth $2,127,000 after purchasing an additional 801,364 shares in the last quarter. Virtus Advisers LLC bought a new stake in shares of RLX Technology during the third quarter worth $115,000. Public Employees Retirement System of Ohio increased its holdings in shares of RLX Technology by 15.3% during the third quarter. Public Employees Retirement System of Ohio now owns 372,311 shares of the company’s stock worth $979,000 after buying an additional 49,295 shares in the last quarter. Numerai GP LLC bought a new position in shares of RLX Technology in the 3rd quarter valued at $185,000. Finally, Mariner LLC boosted its holdings in shares of RLX Technology by 7,564.1% during the 3rd quarter. Mariner LLC now owns 1,668,476 shares of the company’s stock valued at $4,388,000 after acquiring an additional 1,646,706 shares in the last quarter. Institutional investors own 22.68% of the company’s stock.

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.