RLX Technology Inc. (NYSE:RLX – Get Free Report)’s stock price was up 6.2% during trading on Monday . The company traded as high as $1.89 and last traded at $1.89. Approximately 2,563,831 shares traded hands during mid-day trading, a decline of 56% from the average daily volume of 5,861,050 shares. The stock had previously closed at $1.78.
Analyst Ratings Changes
RLX has been the subject of a number of research analyst reports. Citigroup upped their price objective on shares of RLX Technology from $2.40 to $2.76 and gave the company a “buy” rating in a research note on Monday, March 18th. TheStreet raised shares of RLX Technology from a “d” rating to a “c-” rating in a research report on Monday, March 18th.
Read Our Latest Analysis on RLX Technology
RLX Technology Price Performance
RLX Technology (NYSE:RLX – Get Free Report) last released its quarterly earnings results on Friday, March 15th. The company reported $0.02 EPS for the quarter. RLX Technology had a return on equity of 3.32% and a net margin of 34.74%. The business had revenue of $73.31 million for the quarter.
Institutional Trading of RLX Technology
Hedge funds have recently made changes to their positions in the stock. Yong Rong HK Asset Management Ltd grew its stake in shares of RLX Technology by 26.7% in the third quarter. Yong Rong HK Asset Management Ltd now owns 1,900,000 shares of the company’s stock worth $2,869,000 after purchasing an additional 400,000 shares in the last quarter. IvyRock Asset Management HK Ltd acquired a new stake in shares of RLX Technology in the 3rd quarter worth approximately $151,000. Vanguard Personalized Indexing Management LLC bought a new position in shares of RLX Technology in the third quarter valued at approximately $37,000. Canada Pension Plan Investment Board increased its stake in shares of RLX Technology by 77.9% during the third quarter. Canada Pension Plan Investment Board now owns 2,586,097 shares of the company’s stock valued at $3,905,000 after acquiring an additional 1,132,697 shares during the period. Finally, Hsbc Holdings PLC boosted its stake in RLX Technology by 120.7% during the 3rd quarter. Hsbc Holdings PLC now owns 115,466 shares of the company’s stock valued at $174,000 after purchasing an additional 63,146 shares in the last quarter. Institutional investors own 22.68% of the company’s stock.
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. It serves partner distributors and retail outlets. The company was founded in 2018 and is headquartered in Beijing, China.
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