Shares of RLX Technology Inc. (NYSE:RLX – Get Free Report) were up 6.2% on Monday . The stock traded as high as $1.89 and last traded at $1.89. Approximately 2,563,831 shares were traded during mid-day trading, a decline of 56% from the average daily volume of 5,861,050 shares. The stock had previously closed at $1.78.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on RLX shares. Citigroup raised their price objective on shares of RLX Technology from $2.40 to $2.76 and gave the stock a “buy” rating in a report on Monday, March 18th. TheStreet raised RLX Technology from a “d” rating to a “c-” rating in a report on Monday, March 18th.
Read Our Latest Research Report on RLX
RLX Technology Stock Performance
RLX Technology (NYSE:RLX – Get Free Report) last posted its earnings results on Friday, March 15th. The company reported $0.02 earnings per share for the quarter. The business had revenue of $73.31 million for the quarter. RLX Technology had a net margin of 34.74% and a return on equity of 3.32%.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC increased its position in shares of RLX Technology by 18.0% during the 4th quarter. Quadrant Capital Group LLC now owns 92,575 shares of the company’s stock valued at $185,000 after purchasing an additional 14,124 shares during the last quarter. Vanguard Personalized Indexing Management LLC purchased a new position in RLX Technology in the 3rd quarter worth $37,000. Panagora Asset Management Inc. bought a new position in shares of RLX Technology during the fourth quarter valued at about $61,000. Hsbc Holdings PLC increased its holdings in shares of RLX Technology by 120.7% in the third quarter. Hsbc Holdings PLC now owns 115,466 shares of the company’s stock worth $174,000 after buying an additional 63,146 shares during the period. Finally, IvyRock Asset Management HK Ltd purchased a new stake in RLX Technology during the 3rd quarter valued at about $151,000. 22.68% of the stock is currently owned by hedge funds and other institutional investors.
RLX Technology Company Profile
RLX Technology Inc, together with its subsidiaries, engages in the manufacture and sale of e-vapor products in the People's Republic of China. It serves partner distributors and retail outlets. The company was founded in 2018 and is headquartered in Beijing, China.
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