Point72 Asset Management L.P. Purchases 294,600 Shares of RLX Technology Inc. (NYSE:RLX)

Point72 Asset Management L.P. boosted its position in shares of RLX Technology Inc. (NYSE:RLX) by 22.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,607,900 shares of the company’s stock after buying an additional 294,600 shares during the quarter. Point72 Asset Management L.P.’s holdings in RLX Technology were worth $3,473,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BRIGHT VALLEY CAPITAL Ltd bought a new stake in shares of RLX Technology in the 4th quarter valued at about $19,297,000. Barclays PLC increased its stake in shares of RLX Technology by 5,047.4% in the 4th quarter. Barclays PLC now owns 5,686,433 shares of the company’s stock valued at $12,282,000 after acquiring an additional 5,575,962 shares during the last quarter. Oasis Management Co Ltd. increased its stake in shares of RLX Technology by 9.5% in the 4th quarter. Oasis Management Co Ltd. now owns 5,592,665 shares of the company’s stock valued at $12,080,000 after acquiring an additional 484,542 shares during the last quarter. Nomura Holdings Inc. increased its stake in shares of RLX Technology by 86.1% in the 4th quarter. Nomura Holdings Inc. now owns 3,600,987 shares of the company’s stock valued at $7,778,000 after acquiring an additional 1,665,518 shares during the last quarter. Finally, Millennium Management LLC increased its stake in shares of RLX Technology by 40.1% in the 4th quarter. Millennium Management LLC now owns 3,459,960 shares of the company’s stock valued at $7,474,000 after acquiring an additional 991,100 shares during the last quarter. 22.68% of the stock is owned by institutional investors.

RLX Technology Price Performance

Shares of RLX stock opened at $1.98 on Wednesday. The stock has a 50-day moving average of $1.86 and a 200-day moving average of $2.01. RLX Technology Inc. has a one year low of $1.50 and a one year high of $2.69. The stock has a market cap of $3.11 billion, a PE ratio of 49.51 and a beta of 1.03.

RLX Technology (NYSE:RLX) last posted its earnings results 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 return on equity of 2.48% and a net margin of 15.70%. The business had revenue of $111.35 million for the quarter, compared to the consensus estimate of $763.38 million.

Wall Street Analyst Weigh In

Separately, Citigroup lowered their price target on RLX Technology from $2.50 to $2.25 and set a “neutral” rating for the company in a research note on Monday.

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.