RLX Technology (NYSE:RLX) Sees Unusually-High Trading Volume – Time to Buy?

RLX Technology Inc. Sponsored ADR (NYSE:RLX) shares saw strong trading volume on Monday . 2,720,818 shares traded hands during trading, an increase of 13% from the previous session’s volume of 2,415,001 shares.The stock last traded at $2.3350 and had previously closed at $2.25.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Weiss Ratings restated a “hold (c)” rating on shares of RLX Technology in a report on Thursday, January 22nd. Wall Street Zen lowered RLX Technology from a “hold” rating to a “sell” rating in a report on Sunday. Finally, Citigroup dropped their target price on RLX Technology from $2.60 to $2.50 and set a “neutral” rating on the stock in a report on Monday. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $2.50.

RLX Technology Trading Up 2.4%

The company has a market capitalization of $3.62 billion, a PE ratio of 25.61 and a beta of 1.11. The stock’s fifty day moving average is $2.33 and its two-hundred day moving average is $2.40.

RLX Technology (NYSE:RLX) last announced its quarterly earnings data on Friday, March 13th. The company reported $0.03 EPS for the quarter, hitting the consensus estimate of $0.03. RLX Technology had a net margin of 23.27% and a return on equity of 5.73%. The business had revenue of $163.13 million for the quarter, compared to analyst estimates of $152.06 million.

RLX Technology declared that its Board of Directors has approved a share repurchase plan on Wednesday, December 31st that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its shares are undervalued.

Institutional Trading of RLX Technology

Several hedge funds and other institutional investors have recently modified their holdings of RLX. Assenagon Asset Management S.A. lifted its position in shares of RLX Technology by 49.6% during the third quarter. Assenagon Asset Management S.A. now owns 867,842 shares of the company’s stock worth $2,282,000 after acquiring an additional 287,827 shares in the last quarter. GSA Capital Partners LLP raised its stake in shares of RLX Technology by 225.3% during the 3rd quarter. GSA Capital Partners LLP now owns 590,462 shares of the company’s stock valued at $1,553,000 after purchasing an additional 408,974 shares during the period. XTX Topco Ltd boosted its position in shares of RLX Technology by 242.1% in the second quarter. XTX Topco Ltd now owns 333,267 shares of the company’s stock valued at $737,000 after acquiring an additional 235,844 shares during the period. Pinpoint Asset Management Singapore Pte. Ltd. bought a new stake in RLX Technology during the second quarter worth about $110,000. Finally, Oasis Management Co Ltd. boosted its holdings in shares of RLX Technology by 5.1% in the 3rd quarter. Oasis Management Co Ltd. now owns 6,346,816 shares of the company’s stock worth $16,692,000 after purchasing an additional 309,785 shares in the last quarter. Institutional investors own 22.68% of the company’s stock.

About RLX Technology

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.