RLX Technology (NYSE:RLX) Raised to Hold at Wall Street Zen

RLX Technology (NYSE:RLX) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

RLX has been the subject of several other reports. Weiss Ratings restated a “hold (c)” rating on shares of RLX Technology in a report on Thursday, January 22nd. Citigroup reduced their price target on RLX Technology from $2.60 to $2.50 and set a “neutral” rating on the stock in a report on Monday, March 16th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, RLX Technology has a consensus rating of “Hold” and a consensus price target of $2.50.

RLX Technology Stock Down 3.4%

RLX Technology stock opened at $2.13 on Friday. The company has a fifty day simple moving average of $2.31 and a 200-day simple moving average of $2.38. The firm has a market capitalization of $3.34 billion, a price-to-earnings ratio of 23.61 and a beta of 1.11. RLX Technology has a 52-week low of $1.66 and a 52-week high of $2.84.

RLX Technology (NYSE:RLX) last posted its quarterly earnings results on Saturday, February 14th. The company reported $0.03 EPS for the quarter. RLX Technology had a return on equity of 5.74% and a net margin of 23.27%.The firm had revenue of $163.13 million during the quarter.

RLX Technology declared that its Board of Directors has approved a stock buyback plan on Wednesday, December 31st that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On RLX Technology

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Schonfeld Strategic Advisors LLC purchased a new stake in shares of RLX Technology during the fourth quarter worth approximately $26,000. Insigneo Advisory Services LLC purchased a new position in RLX Technology in the fourth quarter worth approximately $29,000. AXQ Capital LP acquired a new position in RLX Technology during the 4th quarter worth approximately $30,000. SmartHarvest Portfolios LLC acquired a new position in RLX Technology during the 4th quarter worth approximately $40,000. Finally, BNP Paribas Financial Markets purchased a new stake in shares of RLX Technology in the 3rd quarter valued at approximately $60,000. 22.68% of the stock is owned by institutional investors and hedge funds.

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.