RLX Technology (NYSE:RLX) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of RLX Technology (NYSE:RLX) from a sell rating to a hold rating in a research note issued to investors on Monday morning.

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of RLX Technology in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $2.25.

RLX Technology Price Performance

RLX Technology stock opened at $2.25 on Monday. The stock has a market cap of $3.53 billion, a PE ratio of 32.07 and a beta of 1.10. The stock’s fifty day moving average is $2.37 and its two-hundred day moving average is $2.38. RLX Technology has a 1-year low of $1.66 and a 1-year high of $2.84.

RLX Technology (NYSE:RLX) last released its quarterly earnings data on Friday, November 14th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.01). RLX Technology had a return on equity of 4.74% and a net margin of 21.05%.The business had revenue of $158.63 million for the quarter, compared to analyst estimates of $139.99 million.

RLX Technology Increases Dividend

The company also recently announced an annual dividend, which will be paid on Monday, February 9th. Stockholders of record on Monday, January 26th will be issued a $0.10 dividend. This represents a dividend yield of 390.0%. The ex-dividend date of this dividend is Monday, January 26th. This is an increase from RLX Technology’s previous annual dividend of $0.01. RLX Technology’s dividend payout ratio (DPR) is presently 14.29%.

RLX Technology announced that its board has authorized a stock buyback plan on Wednesday, December 31st that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets purchased a new stake in RLX Technology in the third quarter valued at approximately $60,000. Cresset Asset Management LLC acquired a new position in shares of RLX Technology in the 3rd quarter valued at $66,000. Brevan Howard Capital Management LP purchased a new stake in RLX Technology in the 3rd quarter valued at $73,000. Vanguard Personalized Indexing Management LLC boosted its stake in RLX Technology by 73.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 40,168 shares of the company’s stock worth $89,000 after purchasing an additional 17,060 shares during the period. Finally, Profund Advisors LLC grew its position in RLX Technology by 21.0% during the 3rd quarter. Profund Advisors LLC now owns 40,305 shares of the company’s stock worth $106,000 after purchasing an additional 7,006 shares during the last quarter. Institutional investors and hedge funds own 22.68% of the company’s stock.

About RLX Technology

RLX Technology Inc (NYSE:RLX) is a China-based company specializing in electronic nicotine delivery systems. The company develops, manufactures and markets closed-pod vaping devices and prefilled cartridges, positioning its products as an alternative to traditional combustible tobacco. RLX emphasizes consistent nicotine delivery, flavor variety and convenience through its proprietary e-liquid formulations and device design.

RLX operates a vertically integrated business model that encompasses research and development, production, quality control and sales.