RLX Technology (NYSE:RLX) Hits New 52-Week Low – Here’s What Happened

RLX Technology Inc. Sponsored ADR (NYSE:RLX)’s stock price hit a new 52-week low during trading on Monday. The stock traded as low as $1.58 and last traded at $1.5950, with a volume of 207,458 shares trading hands. The stock had previously closed at $1.61.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on RLX shares. Weiss Ratings reissued a “hold (c)” rating on shares of RLX Technology in a research report on Thursday, October 15th. Wall Street Zen downgraded shares of RLX Technology from a “hold” rating to a “sell” rating in a research report on Saturday. Two analysts have rated the stock with a Hold rating. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $2.50.

RLX Technology Trading Down 3.5%

The business’s 50-day simple moving average is $1.70 and its two-hundred day simple moving average is $2.01. The company has a market capitalization of $2.38 billion, a PE ratio of 14.62 and a beta of 1.14.

RLX Technology (NYSE:RLX) last announced its earnings results on Friday, August 14th. The company reported $0.03 earnings per share (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 business had revenue of $148.73 million for the quarter, compared to analysts’ expectations of $173.99 million.

Institutional Investors Weigh In On RLX Technology

Several hedge funds and other institutional investors have recently bought and sold shares of RLX. Headlands Technologies LLC boosted its stake in shares of RLX Technology by 26.0% during the 2nd 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 bought a new stake in shares of RLX Technology in the first quarter worth $32,000. Ground Swell Capital LLC bought a new stake in shares of RLX Technology in the third quarter worth $26,000. Engineers Gate Manager LP acquired a new stake in RLX Technology in the second quarter valued at $71,000. Finally, WINTON GROUP Ltd raised its holdings in RLX Technology by 177.7% in the second quarter. WINTON GROUP Ltd now owns 117,910 shares of the company’s stock valued at $224,000 after acquiring an additional 75,443 shares in the last quarter. 22.68% of the stock is currently owned by hedge funds and other institutional investors.

RLX Technology Company Profile

RLX Technology is a China-based company that develops, manufactures and sells electronic vapor products under the RELX brand. Founded in 2018 by Kate Wang, the company focuses on branded e-cigarettes and related products. Its offerings include electronic vapor devices, prefilled pods and accessories. RLX also conducts product research and development and supports the manufacturing and distribution of its products. The company serves customers in China and international markets through retail and distribution channels.