RLX Technology (NYSE:RLX) Sees Large Volume Increase – Here’s What Happened

RLX Technology Inc. (NYSE:RLX) saw an uptick in trading volume on Monday . 6,572,226 shares were traded during trading, an increase of 26% from the previous session’s volume of 5,208,013 shares.The stock last traded at $1.96 and had previously closed at $2.26.

Wall Street Analyst Weigh In

Separately, Citigroup lowered shares of RLX Technology from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $2.80 to $2.50 in a research note on Monday.

RLX Technology Price Performance

The company’s 50 day moving average price is $2.28 and its 200 day moving average price is $1.96. The firm has a market cap of $3.20 billion, a PE ratio of 50.89 and a beta of 0.93.

RLX Technology (NYSE:RLX) last posted its quarterly earnings data on Friday, March 14th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.19). RLX Technology had a net margin of 15.70% and a return on equity of 2.48%. The business had revenue of $111.46 million during the quarter, compared to analysts’ expectations of $764.69 million.

Institutional Trading of RLX Technology

Several hedge funds have recently added to or reduced their stakes in RLX. Cache Advisors LLC purchased a new stake in shares of RLX Technology in the 4th quarter valued at approximately $155,000. Public Employees Retirement System of Ohio raised its holdings in shares of RLX Technology by 58.0% in the 4th quarter. Public Employees Retirement System of Ohio now owns 193,389 shares of the company’s stock valued at $418,000 after purchasing an additional 71,026 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in RLX Technology by 9.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 668,706 shares of the company’s stock valued at $1,444,000 after buying an additional 56,639 shares in the last quarter. Two Sigma Advisers LP lifted its holdings in RLX Technology by 192.7% during the 4th quarter. Two Sigma Advisers LP now owns 55,900 shares of the company’s stock worth $121,000 after buying an additional 36,800 shares during the last quarter. Finally, Two Sigma Investments LP boosted its position in shares of RLX Technology by 1,127.4% during the 4th quarter. Two Sigma Investments LP now owns 1,158,917 shares of the company’s stock worth $2,503,000 after acquiring an additional 1,064,500 shares in the last quarter. Institutional investors and hedge funds 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.