Wall Street Zen Upgrades RLX Technology (NYSE:RLX) to “Hold”

RLX Technology (NYSE:RLX) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings restated a “hold (c)” rating on shares of RLX Technology in a research note on Friday, July 17th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $2.50.

RLX Technology Price Performance

RLX Technology stock opened at $1.71 on Friday. The stock has a market cap of $2.64 billion, a PE ratio of 16.24 and a beta of 1.16. The stock’s fifty day moving average is $1.90 and its two-hundred day moving average is $2.03. RLX Technology has a 1-year low of $1.67 and a 1-year high of $2.68.

RLX Technology (NYSE:RLX) last released its quarterly earnings data on Friday, August 14th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.06). RLX Technology had a return on equity of 6.20% and a net margin of 20.24%.The business had revenue of $148.73 million for the quarter, compared to analyst estimates of $173.99 million.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of RLX. WINTON GROUP Ltd raised its stake in shares of RLX Technology by 177.7% during the second quarter. WINTON GROUP Ltd now owns 117,910 shares of the company’s stock worth $224,000 after purchasing an additional 75,443 shares during the last quarter. Engineers Gate Manager LP acquired a new stake in shares of RLX Technology during the second quarter worth $71,000. Headlands Technologies LLC lifted its holdings in shares of RLX Technology by 26.0% during the second quarter. Headlands Technologies LLC now owns 69,479 shares of the company’s stock worth $132,000 after purchasing an additional 14,350 shares during the period. Public Employees Retirement System of Ohio purchased a new position in RLX Technology in the 2nd quarter valued at $674,000. Finally, Bank of America Corp DE grew its position in RLX Technology by 113.0% in the 1st quarter. Bank of America Corp DE now owns 2,449,708 shares of the company’s stock valued at $5,389,000 after buying an additional 1,299,828 shares during the last quarter. Institutional investors and hedge funds own 22.68% of the company’s stock.

RLX Technology Company Profile

RLX Technology, Inc is a China-based company that develops, manufactures, and sells vaping products under the RELX brand. Its product portfolio includes electronic vaporizer devices, refillable or pre-filled pod cartridges, atomizers, and related accessories designed for adult consumers.

Founded in 2018, the company has focused on building a closed-system vaping platform that combines proprietary hardware, e-liquid formulations, and pod-based products. RLX Technology has also invested in research and development, manufacturing capabilities, and retail distribution to support its product offerings.

The company primarily serves the Chinese market and has pursued international expansion through sales and distribution in selected overseas markets.