RLX Technology (NYSE:RLX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of RLX Technology (NYSE:RLX) from a sell rating to a hold rating in a research note issued to investors on Saturday morning.

A number of other research analysts have also weighed in on RLX. Citigroup cut their target price on shares of RLX Technology from $2.60 to $2.50 and set a “neutral” rating for the company in a research report on Monday, March 16th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of RLX Technology in a research report on Thursday, January 22nd. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, RLX Technology currently has an average rating of “Hold” and an average target price of $2.50.

RLX Technology Stock Up 1.2%

Shares of RLX stock opened at $2.15 on Friday. RLX Technology has a 12 month low of $1.66 and a 12 month high of $2.84. The company has a market cap of $3.37 billion, a PE ratio of 23.84 and a beta of 1.11. The business’s 50 day moving average is $2.31 and its two-hundred day moving average is $2.37.

RLX Technology (NYSE:RLX) last issued its quarterly earnings data on Saturday, February 14th. The company reported $0.03 earnings per share for the quarter. RLX Technology had a net margin of 23.27% and a return on equity of 5.74%. The business had revenue of $163.13 million during the quarter.

RLX Technology declared that its board has approved a stock buyback plan on Wednesday, December 31st that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Institutional Trading of RLX Technology

Several hedge funds and other institutional investors have recently bought and sold shares of RLX. Vanguard Group Inc. lifted its stake in shares of RLX Technology by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 27,144,029 shares of the company’s stock valued at $63,246,000 after buying an additional 206,347 shares during the period. Perseverance Asset Management International increased its stake in RLX Technology by 4.4% during the fourth quarter. Perseverance Asset Management International now owns 7,790,928 shares of the company’s stock valued at $18,153,000 after acquiring an additional 325,361 shares during the period. Oasis Management Co Ltd. raised its holdings in RLX Technology by 2.4% in the 4th quarter. Oasis Management Co Ltd. now owns 6,497,600 shares of the company’s stock valued at $15,139,000 after acquiring an additional 150,784 shares in the last quarter. Mackenzie Financial Corp raised its holdings in RLX Technology by 40.4% in the 4th quarter. Mackenzie Financial Corp now owns 4,218,617 shares of the company’s stock valued at $9,642,000 after acquiring an additional 1,214,766 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in shares of RLX Technology by 53.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 3,804,284 shares of the company’s stock worth $8,407,000 after acquiring an additional 1,329,500 shares during the period. 22.68% of the stock is currently owned by institutional investors and hedge funds.

About RLX Technology

RLX Technology Inc (NYSE:RLX) is a China-based company specializing in electronic nicotine delivery systems. The company develops, manufactures and markets closed-pod vaping devices and prefilled cartridges, positioning its products as an alternative to traditional combustible tobacco. RLX emphasizes consistent nicotine delivery, flavor variety and convenience through its proprietary e-liquid formulations and device design.

RLX operates a vertically integrated business model that encompasses research and development, production, quality control and sales.