RLX Technology (NYSE:RLX) Reaches New 1-Year Low – Here’s What Happened

RLX Technology Inc. Sponsored ADR (NYSE:RLX) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $1.74 and last traded at $1.7450, with a volume of 1625076 shares. The stock had previously closed at $1.79.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on RLX. Weiss Ratings reaffirmed a “hold (c)” rating on shares of RLX Technology in a research report on Friday, July 17th. Wall Street Zen downgraded RLX Technology from a “hold” rating to a “sell” rating in a research note on Saturday, August 22nd. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $2.50.

RLX Technology Stock Performance

The company’s fifty day moving average is $1.93 and its two-hundred day moving average is $2.06. The company has a market cap of $2.72 billion, a price-to-earnings ratio of 16.71 and a beta of 1.16.

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

Hedge Funds Weigh In On RLX Technology

Institutional investors and hedge funds have recently modified their holdings of the stock. Schonfeld Strategic Advisors LLC purchased a new position in RLX Technology during the fourth quarter valued at approximately $26,000. Insigneo Advisory Services LLC purchased a new stake in RLX Technology in the 4th quarter worth approximately $29,000. AXQ Capital LP acquired a new stake in shares of RLX Technology during the 4th quarter worth approximately $30,000. Dimensional Fund Advisors LP acquired a new stake in shares of RLX Technology during the 1st quarter worth approximately $32,000. Finally, SmartHarvest Portfolios LLC purchased a new position in shares of RLX Technology during the 4th quarter valued at approximately $40,000. Institutional investors and hedge funds own 22.68% of the company’s stock.

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.