RLX Technology (NYSE:RLX) Shares Down 8.8% – Should You Sell?

RLX Technology Inc. (NYSE:RLX)’s stock price fell 8.8% on Monday . The company traded as low as $2.22 and last traded at $2.22. 3,536,386 shares were traded during trading, a decline of 29% from the average session volume of 4,998,021 shares. The stock had previously closed at $2.43.

RLX Technology Price Performance

The company’s 50 day moving average is $2.21 and its 200 day moving average is $1.90. The stock has a market cap of $3.68 billion, a price-to-earnings ratio of 58.64 and a beta of 0.97.

Institutional Trading of RLX Technology

A number of large investors have recently made changes to their positions in the stock. Centiva Capital LP acquired a new stake in shares of RLX Technology during the third quarter worth $29,000. Janney Montgomery Scott LLC purchased a new position in RLX Technology during the fourth quarter worth about $31,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in RLX Technology in the 4th quarter worth about $42,000. Boothbay Fund Management LLC purchased a new stake in RLX Technology in the 4th quarter valued at about $43,000. Finally, Catalina Capital Group LLC acquired a new position in shares of RLX Technology during the 4th quarter valued at about $63,000. 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.