Pinpoint Asset Management Ltd Has $384,000 Position in RLX Technology Inc. (NYSE:RLX)

Pinpoint Asset Management Ltd decreased its position in shares of RLX Technology Inc. (NYSE:RLX) by 30.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 177,963 shares of the company’s stock after selling 78,469 shares during the period. Pinpoint Asset Management Ltd’s holdings in RLX Technology were worth $384,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Centiva Capital LP acquired a new stake in shares of RLX Technology in the 3rd quarter valued at $29,000. Janney Montgomery Scott LLC bought a new stake in shares of RLX Technology during the 4th quarter worth $31,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of RLX Technology during the 4th quarter worth $42,000. Catalina Capital Group LLC acquired a new stake in RLX Technology in the fourth quarter valued at about $63,000. Finally, Y Intercept Hong Kong Ltd bought a new position in RLX Technology in the third quarter valued at about $118,000. 22.68% of the stock is owned by institutional investors.

RLX Technology Price Performance

Shares of RLX Technology stock opened at $1.85 on Friday. The company’s 50 day moving average price is $2.20 and its two-hundred day moving average price is $1.98. The firm has a market capitalization of $2.90 billion, a P/E ratio of 46.14 and a beta of 0.93. RLX Technology Inc. has a fifty-two week low of $1.50 and a fifty-two week high of $2.69.

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

Analyst Upgrades and Downgrades

Separately, Citigroup downgraded shares of RLX Technology from a “buy” rating to a “neutral” rating and reduced their price target for the company from $2.80 to $2.50 in a research note on Monday, March 17th.

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.