Perseverance Asset Management International Raises Stake in RLX Technology Inc. Sponsored ADR $RLX

Perseverance Asset Management International lifted its position in RLX Technology Inc. Sponsored ADR (NYSE:RLX) by 4.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,790,928 shares of the company’s stock after buying an additional 325,361 shares during the period. RLX Technology comprises 2.7% of Perseverance Asset Management International’s portfolio, making the stock its 6th largest holding. Perseverance Asset Management International owned about 0.50% of RLX Technology worth $18,153,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AXQ Capital LP bought a new position in RLX Technology during the fourth quarter valued at approximately $30,000. SmartHarvest Portfolios LLC bought a new position in RLX Technology during the fourth quarter valued at approximately $40,000. BNP Paribas Financial Markets bought a new position in shares of RLX Technology during the 3rd quarter valued at $60,000. Cresset Asset Management LLC bought a new position in shares of RLX Technology during the 3rd quarter valued at $66,000. Finally, Brevan Howard Capital Management LP bought a new position in shares of RLX Technology during the 3rd quarter valued at $73,000. Institutional investors own 22.68% of the company’s stock.

Wall Street Analysts Forecast Growth

RLX has been the topic of several research analyst reports. Wall Street Zen raised 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 report on Tuesday, April 21st. Finally, Citigroup lowered their target price on RLX Technology from $2.60 to $2.50 and set a “neutral” rating on the stock in a report on Monday, March 16th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, RLX Technology presently has a consensus rating of “Hold” and an average price target of $2.50.

RLX Technology Trading Up 1.3%

Shares of RLX stock opened at $2.03 on Friday. RLX Technology Inc. Sponsored ADR has a 12 month low of $1.96 and a 12 month high of $2.84. The stock has a market cap of $3.14 billion, a P/E ratio of 20.25 and a beta of 1.13. The company has a 50 day simple moving average of $2.12 and a two-hundred day simple moving average of $2.25.

RLX Technology (NYSE:RLX) last announced its earnings results on Wednesday, May 20th. The company reported $0.03 EPS for the quarter, meeting analysts’ consensus estimates of $0.03. RLX Technology had a net margin of 20.76% and a return on equity of 6.15%. The business had revenue of $230.01 million during the quarter, compared to analysts’ expectations of $166.99 million.

RLX Technology 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.