RLX Technology (NYSE:RLX) Rating Lowered to Sell at Wall Street Zen

RLX Technology (NYSE:RLX) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Friday.

Separately, Citigroup cut their target price on shares of RLX Technology from $2.50 to $2.25 and set a “neutral” rating for the company in a research note on Monday, May 19th.

RLX Technology Trading Up 1.1%

Shares of RLX Technology stock opened at $2.23 on Friday. The firm has a fifty day simple moving average of $2.00 and a 200-day simple moving average of $2.08. RLX Technology has a 1-year low of $1.50 and a 1-year high of $2.69. The stock has a market capitalization of $3.50 billion, a price-to-earnings ratio of 37.09 and a beta of 1.07.

RLX Technology (NYSE:RLX) last released its earnings results on Friday, May 16th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.15). The company had revenue of $111.35 million for the quarter, compared to analyst estimates of $763.38 million. RLX Technology had a net margin of 21.38% and a return on equity of 4.05%.

Institutional Investors Weigh In On RLX Technology

Institutional investors and hedge funds have recently bought and sold shares of the business. Barclays PLC increased its holdings in RLX Technology by 5,047.4% in the 4th quarter. Barclays PLC now owns 5,686,433 shares of the company’s stock valued at $12,282,000 after buying an additional 5,575,962 shares during the period. Two Sigma Investments LP increased its holdings in RLX Technology by 1,127.4% in the 4th quarter. Two Sigma Investments LP now owns 1,158,917 shares of the company’s stock valued at $2,503,000 after buying an additional 1,064,500 shares during the period. BRIGHT VALLEY CAPITAL Ltd bought a new stake in RLX Technology in the 4th quarter valued at $19,297,000. Northern Trust Corp increased its holdings in RLX Technology by 56.6% in the 4th quarter. Northern Trust Corp now owns 862,499 shares of the company’s stock valued at $1,863,000 after buying an additional 311,869 shares during the period. Finally, Millennium Management LLC increased its holdings in RLX Technology by 40.1% in the 4th quarter. Millennium Management LLC now owns 3,459,960 shares of the company’s stock valued at $7,474,000 after buying an additional 991,100 shares during the period. Institutional investors own 22.68% of the company’s stock.

RLX Technology Company Profile

RLX Technology Inc, together with its subsidiaries, engages in the manufacture and sale of e-vapor products in the People's Republic of China and internationally. It serves partner distributors and retail outlets. The company was founded in 2018 and is headquartered in Beijing, China.