Bayesian Capital Management LP Makes New Investment in RLX Technology Inc. (NYSE:RLX)

Bayesian Capital Management LP acquired a new stake in RLX Technology Inc. (NYSE:RLX) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 38,100 shares of the company’s stock, valued at approximately $82,000.

Other hedge funds have also modified their holdings of the company. Janney Montgomery Scott LLC bought a new position in shares of RLX Technology during the fourth quarter valued at $31,000. Mirae Asset Global Investments Co. Ltd. bought a new position in RLX Technology during the 4th quarter valued at about $42,000. Boothbay Fund Management LLC bought a new stake in RLX Technology during the fourth quarter worth about $43,000. Catalina Capital Group LLC acquired a new stake in shares of RLX Technology during the fourth quarter worth approximately $63,000. Finally, Quantbot Technologies LP bought a new position in shares of RLX Technology in the fourth quarter valued at approximately $123,000. 22.68% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Citigroup cut RLX Technology from a “buy” rating to a “neutral” rating and dropped their price target for the company from $2.80 to $2.50 in a report on Monday, March 17th.

RLX Technology Stock Up 0.8 %

Shares of NYSE RLX opened at $1.88 on Friday. RLX Technology Inc. has a 12-month low of $1.50 and a 12-month high of $2.69. The firm’s 50-day simple moving average is $1.92 and its 200 day simple moving average is $2.00. The company has a market cap of $2.95 billion, a price-to-earnings ratio of 46.89 and a beta of 1.03.

RLX Technology (NYSE:RLX) last issued its quarterly earnings results on Friday, March 14th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.19). The company had revenue of $111.46 million during the quarter, compared to analyst estimates of $764.69 million. RLX Technology had a net margin of 15.70% and a return on equity of 2.48%.

About RLX Technology

RLX Technology Inc, together with its subsidiaries, engages in the manufacture and sale of e-vapor products in the People's Republic of China and internationally. It serves partner distributors and retail outlets. The company was founded in 2018 and is headquartered in Beijing, China.