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

RLX Technology Inc. Sponsored ADR (NYSE:RLX) shares hit a new 52-week low during trading on Wednesday. The company traded as low as $1.59 and last traded at $1.5950, with a volume of 1,386,059 shares trading hands. The stock had previously closed at $1.63.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on RLX shares. Wall Street Zen raised shares of RLX Technology from a “sell” rating to a “hold” rating in a research report on Saturday, September 19th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of RLX Technology in a research report on Thursday, October 15th. Two investment analysts have rated the stock with a Hold rating. According to data from MarketBeat, RLX Technology presently has an average rating of “Hold” and a consensus price target of $2.50.

RLX Technology Stock Down 1.5%

The stock has a 50 day simple moving average of $1.74 and a 200 day simple moving average of $2.04. The company has a market capitalization of $2.49 billion, a price-to-earnings ratio of 15.28 and a beta of 1.14.

RLX Technology (NYSE:RLX) last posted its earnings results on Friday, August 14th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.06). The company had revenue of $148.73 million for the quarter, compared to the consensus estimate of $173.99 million. RLX Technology had a net margin of 20.24% and a return on equity of 6.20%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. boosted its holdings in shares of RLX Technology by 105.5% during the third quarter. Assenagon Asset Management S.A. now owns 1,495,059 shares of the company’s stock valued at $2,542,000 after acquiring an additional 767,549 shares during the period. WINTON GROUP Ltd increased its holdings in shares of RLX Technology by 177.7% in the 2nd quarter. WINTON GROUP Ltd now owns 117,910 shares of the company’s stock worth $224,000 after acquiring an additional 75,443 shares during the period. Engineers Gate Manager LP acquired a new stake in shares of RLX Technology in the 2nd quarter worth about $71,000. Headlands Technologies LLC increased its holdings in shares of RLX Technology by 26.0% in the 2nd quarter. Headlands Technologies LLC now owns 69,479 shares of the company’s stock worth $132,000 after acquiring an additional 14,350 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new stake in RLX Technology in the 2nd quarter valued at about $674,000. 22.68% of the stock is currently owned by institutional investors.

RLX Technology Company Profile

RLX Technology Inc is a China-based consumer technology company focused on the design, development and sale of vaping products. The company operates primarily through its RELX brand, which offers electronic vaporizer devices, replacement pods and related accessories in a variety of flavors and formats.

Founded in 2018 and headquartered in Beijing, RLX Technology has developed capabilities spanning product research and development, atomization technology, manufacturing, marketing and distribution.