RLX Technology (NYSE:RLX) Stock Price Up 4.8% – Still a Buy?

Shares of RLX Technology Inc. (NYSE:RLX) were up 4.8% during mid-day trading on Wednesday . The company traded as high as $2.06 and last traded at $2.06. Approximately 1,856,853 shares changed hands during trading, a decline of 60% from the average daily volume of 4,672,406 shares. The stock had previously closed at $1.96.

RLX Technology Price Performance

The company has a market capitalization of $3.21 billion, a P/E ratio of 51.14 and a beta of 1.03. The stock’s fifty day simple moving average is $1.76 and its 200-day simple moving average is $1.75.

RLX Technology Announces Dividend

The firm also recently declared an annual dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.01 per share. The ex-dividend date is Friday, December 6th. This represents a dividend yield of 0.59%. RLX Technology’s dividend payout ratio (DPR) is presently 25.00%.

Institutional Trading of RLX Technology

Hedge funds have recently bought and sold shares of the stock. Franklin Resources Inc. increased its holdings in shares of RLX Technology by 14.5% during the 3rd quarter. Franklin Resources Inc. now owns 293,830 shares of the company’s stock worth $497,000 after purchasing an additional 37,294 shares during the period. Virtu Financial LLC increased its stake in RLX Technology by 142.9% during the third quarter. Virtu Financial LLC now owns 85,047 shares of the company’s stock valued at $154,000 after acquiring an additional 50,033 shares during the period. Public Employees Retirement System of Ohio acquired a new position in RLX Technology in the 3rd quarter valued at approximately $221,000. Y Intercept Hong Kong Ltd bought a new stake in shares of RLX Technology in the 3rd quarter worth approximately $118,000. Finally, XTX Topco Ltd acquired a new stake in shares of RLX Technology during the 3rd quarter worth approximately $184,000. 22.68% of the stock is owned by institutional investors.

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.