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 Friday . The company traded as low as $1.96 and last traded at $1.9750, with a volume of 327656 shares trading hands. The stock had previously closed at $2.02.

Analyst Upgrades and Downgrades

Several research firms have recently commented on RLX. Wall Street Zen raised shares of RLX Technology from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of RLX Technology in a research note on Tuesday, April 21st. Finally, Citigroup decreased their price target on shares of RLX Technology from $2.60 to $2.50 and set a “neutral” rating for the company in a research note on Monday, March 16th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $2.50.

RLX Technology Price Performance

The company has a market cap of $3.12 billion, a PE ratio of 20.15 and a beta of 1.13. The business’s 50 day moving average is $2.14 and its 200-day moving average is $2.27.

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

Hedge Funds Weigh In On RLX Technology

Several hedge funds have recently made changes to their positions in RLX. JPMorgan Chase & Co. increased its holdings in shares of 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 acquiring an additional 801,364 shares during the period. GSA Capital Partners LLP increased its holdings in shares of 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 acquiring an additional 408,974 shares during the period. Oasis Management Co Ltd. increased its holdings in shares of 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 acquiring an additional 309,785 shares during the period. UBS Group AG increased its holdings in shares of 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 acquiring an additional 670,848 shares during the period. Finally, Perseverance Asset Management International increased its holdings in shares of 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 acquiring an additional 325,361 shares during the period. Hedge funds and other institutional investors 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.