RLX Technology (NYSE:RLX) Upgraded by Wall Street Zen to Hold Rating

Wall Street Zen upgraded shares of RLX Technology (NYSE:RLX) from a sell rating to a hold rating in a report published on Saturday.

Several other research firms also recently commented on RLX. Citigroup dropped their price objective on RLX Technology from $2.60 to $2.50 and set a “neutral” rating on the stock in a research note on Monday, March 16th. Weiss Ratings reissued a “hold (c)” rating on shares of RLX Technology in a research report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $2.50.

RLX Technology Stock Performance

NYSE RLX opened at $2.13 on Friday. The company has a market capitalization of $3.34 billion, a PE ratio of 23.61 and a beta of 1.11. RLX Technology has a 52-week low of $1.66 and a 52-week high of $2.84. The company has a 50-day simple moving average of $2.31 and a 200 day simple moving average of $2.38.

RLX Technology (NYSE:RLX) last released its earnings results on Saturday, February 14th. The company reported $0.03 earnings per share for the quarter. RLX Technology had a net margin of 23.27% and a return on equity of 5.74%. The firm had revenue of $163.13 million for the quarter.

RLX Technology declared that its board has authorized a stock repurchase program on Wednesday, December 31st that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Institutional Trading of RLX Technology

Institutional investors have recently modified their holdings of the business. XTX Topco Ltd grew its stake in RLX Technology by 242.1% in the 2nd quarter. XTX Topco Ltd now owns 333,267 shares of the company’s stock valued at $737,000 after buying an additional 235,844 shares in the last quarter. Quadrature Capital Ltd lifted its position in shares of RLX Technology by 229.0% during the second quarter. Quadrature Capital Ltd now owns 88,297 shares of the company’s stock worth $195,000 after acquiring an additional 61,459 shares in the last quarter. Marshall Wace LLP boosted its holdings in shares of RLX Technology by 29.3% in the second quarter. Marshall Wace LLP now owns 1,133,093 shares of the company’s stock worth $2,504,000 after acquiring an additional 257,103 shares during the period. Canada Pension Plan Investment Board boosted its holdings in shares of RLX Technology by 53.7% in the second quarter. Canada Pension Plan Investment Board now owns 3,804,284 shares of the company’s stock worth $8,407,000 after acquiring an additional 1,329,500 shares during the period. Finally, Tower Research Capital LLC TRC grew its position in shares of RLX Technology by 308.2% in the second quarter. Tower Research Capital LLC TRC now owns 54,064 shares of the company’s stock valued at $119,000 after purchasing an additional 40,819 shares in the last quarter. 22.68% of the stock is currently owned by hedge funds and other institutional investors.

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.