RLX Technology (NYSE:RLX) Stock Gets Downgrade from Wall Street Zen

RLX Technology (NYSE:RLX) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings restated a “hold (c)” rating on shares of RLX Technology in a research report on Thursday, October 15th. Two research analysts have rated the stock with a Hold rating. According to data from MarketBeat, RLX Technology currently has an average rating of “Hold” and a consensus price target of $2.50.

RLX Technology Stock Performance

Shares of RLX stock opened at $1.62 on Friday. The stock has a fifty day moving average price of $1.71 and a 200 day moving average price of $2.02. The stock has a market cap of $2.52 billion, a PE ratio of 15.48 and a beta of 1.14. RLX Technology has a 1 year low of $1.58 and a 1 year high of $2.60.

RLX Technology (NYSE:RLX) last posted its earnings results on Friday, August 14th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.06). RLX Technology had a return on equity of 6.20% and a net margin of 20.24%. The firm had revenue of $148.73 million for the quarter, compared to analysts’ expectations of $173.99 million.

Institutional Trading of RLX Technology

A number of large investors have recently made changes to their positions in RLX. Headlands Technologies LLC raised its position in shares of RLX Technology by 26.0% in the second quarter. Headlands Technologies LLC now owns 69,479 shares of the company’s stock valued at $132,000 after buying an additional 14,350 shares during the last quarter. Dimensional Fund Advisors LP purchased a new position in shares of RLX Technology during the first quarter valued at approximately $32,000. Engineers Gate Manager LP acquired a new stake in RLX Technology during the second quarter worth approximately $71,000. WINTON GROUP Ltd boosted its position in RLX Technology by 177.7% during the second quarter. WINTON GROUP Ltd now owns 117,910 shares of the company’s stock worth $224,000 after acquiring an additional 75,443 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in RLX Technology during the first quarter worth approximately $567,000. Institutional investors and hedge funds own 22.68% of the company’s stock.

About RLX Technology

RLX Technology Inc is a China-based consumer technology company focused on the design, development and sale of vaping products. The company operates primarily through its RELX brand, which offers electronic vaporizer devices, replacement pods and related accessories in a variety of flavors and formats.

Founded in 2018 and headquartered in Beijing, RLX Technology has developed capabilities spanning product research and development, atomization technology, manufacturing, marketing and distribution.