RLX Technology (NYSE:RLX) Hits New 12-Month Low – Here’s Why

Shares of RLX Technology Inc. Sponsored ADR (NYSE:RLX) reached a new 52-week low on Thursday . The company traded as low as $1.97 and last traded at $2.0350, with a volume of 883012 shares. The stock had previously closed at $1.98.

Analyst Ratings Changes

RLX has been the subject of a number of research reports. 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 note on Monday, March 16th. Wall Street Zen upgraded shares of RLX Technology from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of RLX Technology in a research note on Tuesday, April 21st. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $2.50.

RLX Technology Stock Performance

The firm has a market cap of $3.17 billion, a P/E ratio of 20.45 and a beta of 1.16. The firm has a 50 day simple moving average of $2.16 and a 200 day simple moving average of $2.28.

RLX Technology (NYSE:RLX) last posted its quarterly earnings results on Wednesday, May 20th. The company reported $0.03 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.03. The business had revenue of $230.01 million for the quarter, compared to analyst estimates of $166.99 million. RLX Technology had a return on equity of 6.15% and a net margin of 20.76%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of RLX. Vanguard Group Inc. boosted its position in RLX Technology by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 27,144,029 shares of the company’s stock worth $63,246,000 after acquiring an additional 206,347 shares during the last quarter. OLP CAPITAL MANAGEMENT Ltd purchased a new position in RLX Technology in the first quarter worth $29,013,000. Perseverance Asset Management International boosted its stake in shares of RLX Technology by 4.4% during the 4th 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 during the last quarter. Oasis Management Co Ltd. increased its stake in RLX Technology by 2.4% during the fourth quarter. Oasis Management Co Ltd. now owns 6,497,600 shares of the company’s stock worth $15,139,000 after acquiring an additional 150,784 shares during the last quarter. Finally, Mackenzie Financial Corp raised its stake in shares of RLX Technology by 40.4% during the fourth quarter. Mackenzie Financial Corp now owns 4,218,617 shares of the company’s stock valued at $9,642,000 after purchasing an additional 1,214,766 shares during the period. 22.68% of the stock is owned by institutional investors and hedge funds.

RLX Technology Company Profile

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.