Pictet Asset Management Holding SA raised its stake in RLX Technology Inc. Sponsored ADR (NYSE:RLX – Free Report) by 1,517.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,752,344 shares of the company’s stock after purchasing an additional 3,520,377 shares during the period. Pictet Asset Management Holding SA owned 0.24% of RLX Technology worth $8,255,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Public Employees Retirement System of Ohio boosted its position in shares of RLX Technology by 2.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 380,820 shares of the company’s stock worth $887,000 after purchasing an additional 8,509 shares in the last quarter. Franklin Resources Inc. increased its position in RLX Technology by 2.2% in the 3rd quarter. Franklin Resources Inc. now owns 482,778 shares of the company’s stock valued at $1,270,000 after buying an additional 10,522 shares in the last quarter. Schonfeld Strategic Advisors LLC bought a new stake in shares of RLX Technology during the fourth quarter valued at approximately $26,000. Insigneo Advisory Services LLC acquired a new position in RLX Technology during the fourth quarter worth $29,000. Finally, AXQ Capital LP acquired a new stake in shares of RLX Technology in the 4th quarter worth about $30,000. Institutional investors and hedge funds own 22.68% of the company’s stock.
Analyst Ratings Changes
Several research analysts recently issued reports on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of RLX Technology in a research report on Tuesday, April 21st. Citigroup lowered their price target on RLX Technology from $2.60 to $2.50 and set a “neutral” rating for the company in a research report on Monday, March 16th. Finally, Wall Street Zen upgraded RLX Technology from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $2.50.
RLX Technology Stock Performance
Shares of RLX stock opened at $1.93 on Friday. The company has a market capitalization of $2.98 billion, a price-to-earnings ratio of 19.25 and a beta of 1.16. RLX Technology Inc. Sponsored ADR has a 52-week low of $1.76 and a 52-week high of $2.84. The company has a 50-day simple moving average of $2.04 and a two-hundred day simple moving average of $2.20.
RLX Technology (NYSE:RLX – Get Free Report) last posted its earnings results on Wednesday, May 20th. The company reported $0.03 EPS for the quarter, hitting the consensus estimate of $0.03. RLX Technology had a net margin of 20.76% and a return on equity of 6.15%. The firm had revenue of $230.01 million for the quarter, compared to analysts’ expectations of $166.99 million.
RLX Technology 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.
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