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 report issued on Saturday.

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of RLX Technology in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $2.25.

RLX Technology Price Performance

Shares of NYSE:RLX opened at $2.44 on Friday. The business has a 50-day moving average of $2.43 and a two-hundred day moving average of $2.34. The firm has a market capitalization of $3.82 billion, a PE ratio of 34.79 and a beta of 1.09. RLX Technology has a 12 month low of $1.66 and a 12 month high of $2.84.

RLX Technology (NYSE:RLX) last released its quarterly earnings data on Friday, November 14th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.01). The firm had revenue of $158.63 million during the quarter, compared to analyst estimates of $139.99 million. RLX Technology had a net margin of 21.05% and a return on equity of 4.74%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in RLX. BNP Paribas Financial Markets acquired a new stake in RLX Technology during the 3rd quarter valued at $60,000. Ground Swell Capital LLC purchased a new position in RLX Technology in the 1st quarter valued at about $47,000. Cresset Asset Management LLC purchased a new position in RLX Technology in the 3rd quarter valued at about $66,000. Headlands Technologies LLC grew its stake in shares of RLX Technology by 411.8% during the first quarter. Headlands Technologies LLC now owns 25,766 shares of the company’s stock valued at $48,000 after acquiring an additional 20,732 shares in the last quarter. Finally, Brevan Howard Capital Management LP purchased a new stake in shares of RLX Technology during the third quarter worth about $73,000. 22.68% of the stock is currently owned by hedge funds and other institutional investors.

About RLX Technology

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.