RLX Technology (NYSE:RLX) Issues Earnings Results

RLX Technology (NYSE:RLX) released its earnings results on Friday. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01), Zacks reports. The company had revenue of $158.63 million for the quarter, compared to the consensus estimate of $139.99 million. RLX Technology had a net margin of 22.32% and a return on equity of 4.54%.

RLX Technology Price Performance

Shares of RLX Technology stock traded up $0.24 during trading hours on Friday, reaching $2.57. The company had a trading volume of 7,679,229 shares, compared to its average volume of 1,711,256. The business has a fifty day simple moving average of $2.47 and a 200 day simple moving average of $2.28. The firm has a market cap of $4.03 billion, a PE ratio of 36.65 and a beta of 1.10. RLX Technology has a one year low of $1.64 and a one year high of $2.84.

RLX Technology Dividend Announcement

The business also recently announced an annual dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were given a dividend of $0.01 per share. The ex-dividend date was Friday, September 12th. This represents a dividend yield of 38.0%. RLX Technology’s dividend payout ratio is currently 14.29%.

Wall Street Analyst Weigh In

RLX has been the subject of several research reports. Wall Street Zen lowered RLX Technology from a “hold” rating to a “sell” rating in a report on Saturday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of RLX Technology in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, RLX Technology presently has an average rating of “Hold” and an average price target of $2.25.

Institutional Investors Weigh In On RLX Technology

A number of institutional investors and hedge funds have recently modified their holdings of RLX. BNP Paribas Financial Markets purchased a new position in shares of RLX Technology during the 3rd quarter valued at about $60,000. Cresset Asset Management LLC bought a new position in RLX Technology during the third quarter valued at approximately $66,000. Tower Research Capital LLC TRC raised its stake in shares of RLX Technology by 308.2% during the second quarter. Tower Research Capital LLC TRC now owns 54,064 shares of the company’s stock worth $119,000 after acquiring an additional 40,819 shares in the last quarter. Two Sigma Investments LP bought a new stake in shares of RLX Technology in the 3rd quarter worth approximately $323,000. Finally, Franklin Resources Inc. lifted its holdings in shares of RLX Technology by 2.2% in the 3rd 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 last quarter. 22.68% of the stock is owned by hedge funds and other institutional investors.

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.