RLX Technology (NYSE:RLX) Reaches New 52-Week Low – Here’s Why

RLX Technology Inc. Sponsored ADR (NYSE:RLX)’s share price reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $1.96 and last traded at $1.9550, with a volume of 486286 shares. The stock had previously closed at $2.01.

Analyst Ratings Changes

RLX has been the topic of several analyst reports. Wall Street Zen raised shares of RLX Technology from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Citigroup dropped their price target on shares of RLX Technology from $2.60 to $2.50 and set a “neutral” rating on the stock in a research note on Monday, March 16th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of RLX Technology in a research note on Tuesday, April 21st. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $2.50.

RLX Technology Stock Performance

The company’s fifty day moving average price is $2.12 and its 200 day moving average price is $2.25. The firm has a market capitalization of $3.03 billion, a price-to-earnings ratio of 19.55 and a beta of 1.13.

RLX Technology (NYSE:RLX) last posted its quarterly earnings results on Wednesday, May 20th. The company reported $0.03 EPS for the quarter, meeting the consensus estimate of $0.03. RLX Technology had a net margin of 20.76% and a return on equity of 6.15%. The business had revenue of $230.01 million during the quarter, compared to analyst estimates of $166.99 million.

Institutional Investors Weigh In On RLX Technology

Large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. increased its stake in RLX Technology by 11,091.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 808,589 shares of the company’s stock valued at $2,127,000 after buying an additional 801,364 shares during the period. GSA Capital Partners LLP increased its stake in RLX Technology by 225.3% in the 3rd quarter. GSA Capital Partners LLP now owns 590,462 shares of the company’s stock valued at $1,553,000 after buying an additional 408,974 shares during the period. Perseverance Asset Management International increased its stake in RLX Technology by 4.4% in the 4th quarter. Perseverance Asset Management International now owns 7,790,928 shares of the company’s stock valued at $18,153,000 after buying an additional 325,361 shares during the period. Oasis Management Co Ltd. increased its stake in RLX Technology by 5.1% in the 3rd quarter. Oasis Management Co Ltd. now owns 6,346,816 shares of the company’s stock valued at $16,692,000 after buying an additional 309,785 shares during the period. Finally, UBS Group AG increased its stake in RLX Technology by 59.7% in the 4th quarter. UBS Group AG now owns 1,794,749 shares of the company’s stock valued at $4,182,000 after buying an additional 670,848 shares during the period. Institutional investors and hedge funds own 22.68% of the company’s stock.

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.