RLX Technology (NYSE:RLX) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of RLX Technology (NYSE:RLX) from a hold rating to a sell rating in a report released on Saturday.

Separately, Weiss Ratings restated a “hold (c)” rating on shares of RLX Technology in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, RLX Technology presently has an average rating of “Hold” and a consensus target price of $2.25.

RLX Technology Trading Down 1.0%

RLX Technology stock opened at $2.42 on Friday. The stock has a 50-day moving average price of $2.43 and a two-hundred day moving average price of $2.35. RLX Technology has a 12 month low of $1.66 and a 12 month high of $2.84. The company has a market capitalization of $3.79 billion, a PE ratio of 34.50 and a beta of 1.09.

RLX Technology (NYSE:RLX) last released its quarterly earnings results on Friday, November 14th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.01). The firm had revenue of $158.63 million for the quarter, compared to the consensus estimate of $139.99 million. RLX Technology had a return on equity of 4.74% and a net margin of 21.05%.

RLX Technology Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Monday, February 9th. Stockholders of record on Monday, January 26th will be given a dividend of $0.10 per share. This represents a dividend yield of 390.0%. This is a boost from RLX Technology’s previous annual dividend of $0.01. The ex-dividend date is Monday, January 26th. RLX Technology’s dividend payout ratio is currently 14.29%.

Hedge Funds Weigh In On RLX Technology

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of RLX Technology by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 27,935,598 shares of the company’s stock worth $52,519,000 after acquiring an additional 156,350 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in RLX Technology by 10.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 866,827 shares of the company’s stock worth $1,630,000 after purchasing an additional 82,413 shares during the period. Headlands Technologies LLC increased its holdings in RLX Technology by 411.8% in the first quarter. Headlands Technologies LLC now owns 25,766 shares of the company’s stock worth $48,000 after purchasing an additional 20,732 shares in the last quarter. Hosking Partners LLP increased its holdings in RLX Technology by 113.3% in the first quarter. Hosking Partners LLP now owns 2,093,781 shares of the company’s stock worth $3,936,000 after purchasing an additional 1,112,248 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in RLX Technology by 73.6% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,390,852 shares of the company’s stock valued at $2,615,000 after buying an additional 589,748 shares during the period. Institutional investors and hedge funds own 22.68% of the company’s stock.

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.