RLX Technology Inc. (NYSE:RLX) Short Interest Up 22.7% in March

RLX Technology Inc. (NYSE:RLX) was the recipient of a large growth in short interest in March. As of March 15th, there was short interest totalling 14,070,000 shares, a growth of 22.7% from the February 28th total of 11,470,000 shares. Based on an average daily trading volume, of 5,960,000 shares, the short-interest ratio is currently 2.4 days. Currently, 1.6% of the shares of the stock are sold short.

RLX Technology Stock Performance

Shares of RLX traded up $0.01 during mid-day trading on Tuesday, hitting $1.89. 2,477,516 shares of the company were exchanged, compared to its average volume of 4,580,750. The stock has a market cap of $2.96 billion, a price-to-earnings ratio of 47.14 and a beta of 0.93. RLX Technology has a 1-year low of $1.50 and a 1-year high of $2.69. The company has a 50 day moving average of $2.22 and a 200-day moving average of $1.99.

RLX Technology (NYSE:RLX) last announced its earnings results on Friday, March 14th. The company reported $0.01 EPS 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 analyst estimates of $764.69 million. RLX Technology had a net margin of 15.70% and a return on equity of 2.48%.

Institutional Investors Weigh In On RLX Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in RLX. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of RLX Technology in the third quarter worth about $108,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in RLX Technology by 58.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 612,067 shares of the company’s stock valued at $1,108,000 after acquiring an additional 225,200 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in RLX Technology in the 3rd quarter worth approximately $2,386,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of RLX Technology during the 3rd quarter worth approximately $139,000. Finally, Centiva Capital LP purchased a new stake in shares of RLX Technology in the third quarter valued at approximately $29,000. Institutional investors and hedge funds own 22.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Citigroup cut shares of RLX Technology from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $2.80 to $2.50 in a research report 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.