OLP CAPITAL MANAGEMENT Ltd Purchases New Shares in RLX Technology Inc. Sponsored ADR $RLX

OLP CAPITAL MANAGEMENT Ltd acquired a new stake in RLX Technology Inc. Sponsored ADR (NYSE:RLX) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 13,187,715 shares of the company’s stock, valued at approximately $29,013,000. RLX Technology makes up about 3.1% of OLP CAPITAL MANAGEMENT Ltd’s holdings, making the stock its 4th biggest position.

Several other large investors have also recently added to or reduced their stakes in RLX. Public Employees Retirement System of Ohio boosted its position in shares of RLX Technology by 2.3% in the fourth quarter. Public Employees Retirement System of Ohio now owns 380,820 shares of the company’s stock valued at $887,000 after acquiring an additional 8,509 shares during the period. Franklin Resources Inc. increased its position in RLX Technology by 2.2% during the third quarter. Franklin Resources Inc. now owns 482,778 shares of the company’s stock worth $1,270,000 after acquiring an additional 10,522 shares during the period. Schonfeld Strategic Advisors LLC bought a new position in RLX Technology during the fourth quarter worth about $26,000. Insigneo Advisory Services LLC acquired a new stake in RLX Technology in the 4th quarter worth about $29,000. Finally, AXQ Capital LP acquired a new stake in RLX Technology in the 4th quarter worth about $30,000. Institutional investors own 22.68% of the company’s stock.

RLX Technology Stock Performance

NYSE:RLX opened at $2.04 on Friday. The company has a market cap of $3.15 billion, a price-to-earnings ratio of 20.35 and a beta of 1.16. RLX Technology Inc. Sponsored ADR has a fifty-two week low of $1.76 and a fifty-two week high of $2.84. The stock has a fifty day moving average price of $1.99 and a 200-day moving average price of $2.16.

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on RLX shares. Weiss Ratings restated a “hold (c)” rating on shares of RLX Technology in a research report on Friday, July 17th. Wall Street Zen raised shares of RLX Technology from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $2.50.

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.