RLX Technology Inc. Sponsored ADR (NYSE:RLX) Short Interest Down 19.4% in March

RLX Technology Inc. Sponsored ADR (NYSE:RLX) was the recipient of a significant decrease in short interest in March. As of March 31st, there was short interest totaling 3,921,300 shares, a decrease of 19.4% from the March 15th total of 4,865,788 shares. Approximately 0.5% of the company’s stock are sold short. Based on an average daily trading volume, of 3,323,379 shares, the short-interest ratio is currently 1.2 days.

RLX Technology Trading Down 0.2%

Shares of RLX traded down $0.01 during mid-day trading on Friday, hitting $2.18. 1,061,352 shares of the company’s stock were exchanged, compared to its average volume of 2,197,321. RLX Technology has a fifty-two week low of $1.67 and a fifty-two week high of $2.84. The firm has a market capitalization of $3.42 billion, a P/E ratio of 24.17 and a beta of 1.24. The business’s 50 day moving average is $2.26 and its two-hundred day moving average is $2.34.

RLX Technology (NYSE:RLX) last posted its earnings results on Saturday, February 14th. The company reported $0.03 EPS for the quarter. RLX Technology had a return on equity of 5.74% and a net margin of 23.27%.The company had revenue of $163.13 million for the quarter.

RLX Technology declared that its Board of Directors has approved a stock repurchase program on Wednesday, December 31st that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

A number of equities research analysts have issued reports on RLX shares. Wall Street Zen raised shares of RLX Technology from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. Weiss Ratings reissued a “hold (c)” rating on shares of RLX Technology in a research report on Thursday, January 22nd. Finally, Citigroup lowered 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 note on Monday, March 16th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $2.50.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in RLX. Schonfeld Strategic Advisors LLC purchased a new position in shares of RLX Technology in the fourth quarter worth approximately $26,000. Insigneo Advisory Services LLC acquired a new stake in shares of RLX Technology during the 4th quarter worth approximately $29,000. AXQ Capital LP bought a new position in shares of RLX Technology during the fourth quarter valued at $30,000. SmartHarvest Portfolios LLC acquired a new stake in RLX Technology during the 4th quarter valued at $40,000. Finally, BNP Paribas Financial Markets bought a new stake in shares of RLX Technology during the third quarter valued at approximately $60,000. 22.68% of the stock is currently owned by institutional investors.

RLX Technology Company Profile

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.