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

Wall Street Zen upgraded shares of RLX Technology (NYSE:RLX) from a sell rating to a hold rating in a research note published on Saturday.

Separately, Weiss Ratings restated a “hold (c)” rating on shares of RLX Technology in a research note on Thursday, January 22nd. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $2.25.

RLX Technology Price Performance

Shares of RLX opened at $2.24 on Friday. RLX Technology has a 1 year low of $1.66 and a 1 year high of $2.84. The stock’s fifty day moving average price is $2.33 and its two-hundred day moving average price is $2.40. The firm has a market cap of $3.52 billion, a PE ratio of 32.00 and a beta of 1.11.

RLX Technology announced that its Board of Directors has initiated a share repurchase plan on Wednesday, December 31st that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On RLX Technology

A number of large investors have recently made changes to their positions in RLX. Profund Advisors LLC grew its position in shares of RLX Technology by 21.0% in the third quarter. Profund Advisors LLC now owns 40,305 shares of the company’s stock valued at $106,000 after purchasing an additional 7,006 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in RLX Technology by 2.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 380,820 shares of the company’s stock worth $887,000 after purchasing an additional 8,509 shares in the last quarter. Franklin Resources Inc. lifted its holdings in RLX Technology by 2.2% during the 3rd quarter. Franklin Resources Inc. now owns 482,778 shares of the company’s stock worth $1,270,000 after purchasing an additional 10,522 shares in the last quarter. Schonfeld Strategic Advisors LLC bought a new position in RLX Technology in the 4th quarter worth about $26,000. Finally, Insigneo Advisory Services LLC bought a new position in RLX Technology in the 4th quarter worth about $29,000. 22.68% of the stock is owned by institutional investors.

RLX Technology Company Profile

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.