RLX Technology Inc. (NYSE:RLX – Get Free Report)’s share price was down 0.5% during mid-day trading on Wednesday . The company traded as low as $1.78 and last traded at $1.81. Approximately 1,679,141 shares were traded during mid-day trading, a decline of 64% from the average daily volume of 4,672,641 shares. The stock had previously closed at $1.82.
Wall Street Analysts Forecast Growth
RLX has been the topic of several research reports. TheStreet upgraded shares of RLX Technology from a “d” rating to a “c-” rating in a research note on Monday, March 18th. Citigroup raised their target price on shares of RLX Technology from $2.40 to $2.76 and gave the stock a “buy” rating in a report on Monday, March 18th.
Read Our Latest Analysis on RLX
RLX Technology Stock Performance
RLX Technology (NYSE:RLX – Get Free Report) last released its earnings results on Friday, May 17th. The company reported ($0.01) EPS for the quarter. RLX Technology had a net margin of 24.39% and a return on equity of 2.91%. The firm had revenue of $76.40 million during the quarter.
Institutional Trading of RLX Technology
Several institutional investors and hedge funds have recently modified their holdings of the business. Lindbrook Capital LLC boosted its position in RLX Technology by 77.1% in the first quarter. Lindbrook Capital LLC now owns 17,586 shares of the company’s stock valued at $34,000 after buying an additional 7,657 shares in the last quarter. Quadrant Capital Group LLC boosted its holdings in shares of RLX Technology by 18.0% during the 4th quarter. Quadrant Capital Group LLC now owns 92,575 shares of the company’s stock valued at $185,000 after acquiring an additional 14,124 shares in the last quarter. Panagora Asset Management Inc. bought a new stake in RLX Technology during the 4th quarter worth $61,000. Yong Rong HK Asset Management Ltd increased its holdings in RLX Technology by 5.3% in the 4th quarter. Yong Rong HK Asset Management Ltd now owns 2,000,000 shares of the company’s stock worth $4,000,000 after purchasing an additional 100,000 shares in the last quarter. Finally, SG Americas Securities LLC raised its position in RLX Technology by 151.4% in the fourth quarter. SG Americas Securities LLC now owns 168,132 shares of the company’s stock valued at $336,000 after purchasing an additional 101,263 shares during the last quarter. 22.68% of the stock is currently owned by institutional investors.
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.
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