Point72 Hong Kong Ltd Boosts Stock Position in RLX Technology Inc. (NYSE:RLX)

Point72 Hong Kong Ltd increased its stake in RLX Technology Inc. (NYSE:RLX) by 11.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,463,092 shares of the company’s stock after buying an additional 145,100 shares during the quarter. Point72 Hong Kong Ltd’s holdings in RLX Technology were worth $3,160,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in RLX. Janney Montgomery Scott LLC bought a new stake in shares of RLX Technology during the 4th quarter worth approximately $31,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in RLX Technology during the 4th quarter valued at about $42,000. Boothbay Fund Management LLC bought a new position in shares of RLX Technology during the fourth quarter valued at approximately $43,000. Catalina Capital Group LLC bought a new position in shares of RLX Technology during the fourth quarter valued at approximately $63,000. Finally, Bayesian Capital Management LP bought a new position in shares of RLX Technology during the fourth quarter valued at approximately $82,000. Institutional investors own 22.68% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Citigroup downgraded shares of RLX Technology from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $2.80 to $2.50 in a research note on Monday, March 17th.

RLX Technology Stock Up 1.6%

NYSE:RLX opened at $1.93 on Thursday. RLX Technology Inc. has a 52 week low of $1.50 and a 52 week high of $2.69. The firm has a 50 day moving average of $1.89 and a 200 day moving average of $2.00. The stock has a market capitalization of $3.03 billion, a price-to-earnings ratio of 48.26 and a beta of 1.03.

RLX Technology (NYSE:RLX) last posted its quarterly earnings results on Friday, March 14th. The company reported $0.01 earnings per share (EPS) 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 analysts’ expectations of $764.69 million. RLX Technology had a return on equity of 2.48% and a net margin of 15.70%.

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.