UBS Group AG Buys 670,848 Shares of RLX Technology Inc. Sponsored ADR $RLX

UBS Group AG grew its stake in RLX Technology Inc. Sponsored ADR (NYSE:RLX) by 59.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,794,749 shares of the company’s stock after acquiring an additional 670,848 shares during the period. UBS Group AG owned 0.11% of RLX Technology worth $4,182,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. BNP Paribas Financial Markets bought a new position in shares of RLX Technology in the 3rd quarter valued at about $60,000. Cresset Asset Management LLC bought a new position in RLX Technology during the third quarter worth about $66,000. Brevan Howard Capital Management LP bought a new position in RLX Technology during the third quarter worth about $73,000. Profund Advisors LLC grew its holdings in RLX Technology by 21.0% during the third quarter. Profund Advisors LLC now owns 40,305 shares of the company’s stock worth $106,000 after purchasing an additional 7,006 shares during the period. Finally, Virtus Advisers LLC bought a new position in RLX Technology during the third quarter worth about $115,000. Institutional investors own 22.68% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on RLX. Citigroup reduced their price target on RLX Technology from $2.60 to $2.50 and set a “neutral” rating for the company in a report on Monday, March 16th. Wall Street Zen upgraded RLX Technology from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of RLX Technology in a report on Tuesday, April 21st. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $2.50.

RLX Technology Stock Performance

RLX Technology stock opened at $2.09 on Friday. RLX Technology Inc. Sponsored ADR has a 52 week low of $1.95 and a 52 week high of $2.84. The stock has a market capitalization of $3.23 billion, a P/E ratio of 20.85 and a beta of 1.16. The stock has a 50-day simple moving average of $2.18 and a 200 day simple moving average of $2.29.

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

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.