RLX Technology Inc. (NYSE:RLX – Get Rating) rose 3.7% during mid-day trading on Tuesday . The company traded as high as $1.97 and last traded at $1.97. Approximately 30,326 shares traded hands during mid-day trading, a decline of 100% from the average daily volume of 14,866,334 shares. The stock had previously closed at $1.90.
RLX has been the subject of a number of analyst reports. Citigroup reduced their price objective on shares of RLX Technology from $11.50 to $6.00 in a research note on Monday, March 14th. Zacks Investment Research raised shares of RLX Technology from a “sell” rating to a “hold” rating in a research report on Thursday, April 14th.
The firm has a market capitalization of $3.11 billion, a PE ratio of 8.26 and a beta of 0.17. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.88 and a current ratio of 5.10. The stock’s fifty day simple moving average is $2.46.
A number of hedge funds and other institutional investors have recently modified their holdings of RLX. Cubist Systematic Strategies LLC boosted its stake in shares of RLX Technology by 64.5% in the 4th quarter. Cubist Systematic Strategies LLC now owns 16,489 shares of the company’s stock valued at $64,000 after purchasing an additional 6,464 shares during the last quarter. American International Group Inc. bought a new position in shares of RLX Technology in the 3rd quarter valued at about $35,000. abrdn plc boosted its stake in shares of RLX Technology by 11.3% in the 4th quarter. abrdn plc now owns 80,106 shares of the company’s stock valued at $313,000 after purchasing an additional 8,117 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in RLX Technology during the 4th quarter worth approximately $40,000. Finally, Janney Montgomery Scott LLC bought a new position in RLX Technology during the 4th quarter worth approximately $56,000. Institutional investors and hedge funds own 13.80% of the company’s stock.
About RLX Technology (NYSE:RLX)
RLX Technology Inc, together with its subsidiaries, researchers, develops, manufactures, distributes, and sells e-vapor products in the People's Republic of China. It serves RELX branded partner stores and other retail outlets through distributors. The company was founded in 2018 and is based in Beijing, China.
- Get a free copy of the StockNews.com research report on RLX Technology (RLX)
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