RLX Technology (NYSE:RLX) Sees Large Volume Increase – Should You Buy?

Shares of RLX Technology Inc. Sponsored ADR (NYSE:RLX) saw strong trading volume on Tuesday . 1,734,323 shares were traded during mid-day trading, a decline of 22% from the previous session’s volume of 2,229,186 shares.The stock last traded at $2.1050 and had previously closed at $2.17.

Analyst Upgrades and Downgrades

Several research firms have commented on RLX. Citigroup decreased their target price on shares of RLX Technology from $2.60 to $2.50 and set a “neutral” rating for the company in a research report on Monday, March 16th. Weiss Ratings restated a “hold (c)” rating on shares of RLX Technology in a report on Tuesday, April 21st. Finally, Wall Street Zen raised shares of RLX Technology from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $2.50.

RLX Technology Trading Down 2.5%

The stock has a fifty day simple moving average of $2.19 and a 200-day simple moving average of $2.30. The stock has a market cap of $3.28 billion, a price-to-earnings ratio of 23.50 and a beta of 1.16.

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

Institutional Trading of RLX Technology

Hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. increased its stake in shares of RLX Technology by 11,091.5% in the third quarter. JPMorgan Chase & Co. now owns 808,589 shares of the company’s stock valued at $2,127,000 after buying an additional 801,364 shares in the last quarter. GSA Capital Partners LLP increased its position in RLX Technology by 225.3% in the 3rd quarter. GSA Capital Partners LLP now owns 590,462 shares of the company’s stock valued at $1,553,000 after acquiring an additional 408,974 shares in the last quarter. Oasis Management Co Ltd. raised its stake in shares of RLX Technology by 5.1% in the third quarter. Oasis Management Co Ltd. now owns 6,346,816 shares of the company’s stock worth $16,692,000 after acquiring an additional 309,785 shares during the last quarter. Profund Advisors LLC raised its stake in shares of RLX Technology by 21.0% in the third quarter. Profund Advisors LLC now owns 40,305 shares of the company’s stock worth $106,000 after acquiring an additional 7,006 shares during the last quarter. Finally, Perseverance Asset Management International lifted its position in shares of RLX Technology by 4.4% during the fourth quarter. Perseverance Asset Management International now owns 7,790,928 shares of the company’s stock worth $18,153,000 after purchasing an additional 325,361 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.