RLX Technology (NYSE:RLX) Stock Rating Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of RLX Technology (NYSE:RLX) from a hold rating to a sell rating in a research report released on Saturday morning,Wall Street Zen reports.

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of RLX Technology in a research note on Thursday, October 15th. Two investment analysts have rated the stock with a Hold rating. According to MarketBeat, RLX Technology presently has an average rating of “Hold” and an average target price of $2.50.

RLX Technology Price Performance

NYSE RLX opened at $1.62 on Friday. RLX Technology has a 1 year low of $1.58 and a 1 year high of $2.60. The firm has a market cap of $2.52 billion, a price-to-earnings ratio of 15.48 and a beta of 1.14. The company has a fifty day moving average price of $1.71 and a 200-day moving average price of $2.02.

RLX Technology (NYSE:RLX) last announced 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). RLX Technology had a net margin of 20.24% and a return on equity of 6.20%. The firm had revenue of $148.73 million during the quarter, compared to analysts’ expectations of $173.99 million.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of RLX. Dimensional Fund Advisors LP purchased a new stake in shares of RLX Technology during the 1st quarter valued at $32,000. Engineers Gate Manager LP purchased a new position in shares of RLX Technology in the 2nd quarter worth about $71,000. Headlands Technologies LLC grew its position in RLX Technology by 26.0% during the second quarter. Headlands Technologies LLC now owns 69,479 shares of the company’s stock valued at $132,000 after buying an additional 14,350 shares during the period. WINTON GROUP Ltd grew its position in RLX Technology by 177.7% during the second quarter. WINTON GROUP Ltd now owns 117,910 shares of the company’s stock valued at $224,000 after buying an additional 75,443 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in RLX Technology during the first quarter worth about $567,000. Institutional investors own 22.68% of the company’s stock.

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.