RLX Technology (NYSE:RLX) Shares Gap Down to $3.89

RLX Technology Inc. (NYSE:RLX) gapped down before the market opened on Thursday . The stock had previously closed at $3.89, but opened at $3.77. RLX Technology shares last traded at $3.74, with a volume of 23,083 shares.

Several research analysts recently issued reports on the stock. Citigroup cut their price target on shares of RLX Technology from $15.10 to $11.50 and set a “buy” rating for the company in a report on Monday, December 6th. Zacks Investment Research cut shares of RLX Technology from a “hold” rating to a “strong sell” rating in a report on Thursday, January 6th. Finally, Bank of America started coverage on shares of RLX Technology in a report on Monday, November 1st. They set a “neutral” rating and a $6.00 price target for the company. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $16.88.

The company has a quick ratio of 4.55, a current ratio of 4.78 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $5.75 billion and a PE ratio of 26.43. The stock’s fifty day simple moving average is $4.21 and its 200-day simple moving average is $5.14.

RLX Technology (NYSE:RLX) last issued its earnings results on Friday, December 3rd. The company reported $0.11 earnings per share (EPS) for the quarter. RLX Technology had a net margin of 15.91% and a return on equity of 13.11%. The company had revenue of $260.22 million during the quarter. Analysts expect that RLX Technology Inc. will post 1.44 EPS for the current year.

A number of institutional investors have recently modified their holdings of RLX. Russell Investments Group Ltd. purchased a new position in shares of RLX Technology during the 2nd quarter worth approximately $96,000. Swiss National Bank increased its stake in shares of RLX Technology by 31.9% during the 2nd quarter. Swiss National Bank now owns 287,050 shares of the company’s stock worth $2,506,000 after purchasing an additional 69,500 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of RLX Technology by 11.8% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 55,900 shares of the company’s stock worth $488,000 after purchasing an additional 5,900 shares in the last quarter. Citigroup Inc. increased its stake in shares of RLX Technology by 213.4% during the 2nd quarter. Citigroup Inc. now owns 158,668 shares of the company’s stock worth $1,385,000 after purchasing an additional 108,042 shares in the last quarter. Finally, Aviva PLC increased its stake in shares of RLX Technology by 12.8% during the 2nd quarter. Aviva PLC now owns 41,530 shares of the company’s stock worth $363,000 after purchasing an additional 4,700 shares in the last quarter. 13.49% of the stock is owned by institutional investors.

RLX Technology Company Profile (NYSE:RLX)

RLX Technology Inc, together with its subsidiaries, researchers, develops, manufactures, distributes, and sells e-vapor products in the People's Republic of China. It serves RELX branded partner stores and other retail outlets through distributors. The company was founded in 2018 and is based in Beijing, China.

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