RLX Technology (NYSE:RLX) Rating Lowered to Sell at Wall Street Zen

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

Separately, Weiss Ratings restated a “hold (c)” rating on shares of RLX Technology in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, RLX Technology has a consensus rating of “Hold” and a consensus target price of $2.25.

RLX Technology Trading Up 1.5%

RLX Technology stock opened at $2.44 on Friday. RLX Technology has a 1-year low of $1.66 and a 1-year high of $2.84. The firm has a market capitalization of $3.82 billion, a PE ratio of 34.79 and a beta of 1.09. The firm’s 50 day simple moving average is $2.43 and its 200 day simple moving average is $2.34.

RLX Technology (NYSE:RLX) last announced its quarterly earnings results on Friday, November 14th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.01). The firm had revenue of $158.63 million during the quarter, compared to the consensus estimate of $139.99 million. RLX Technology had a net margin of 21.05% and a return on equity of 4.74%.

Hedge Funds Weigh In On RLX Technology

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Virtus Advisers LLC bought a new position in shares of RLX Technology during the 3rd quarter valued at about $115,000. Public Employees Retirement System of Ohio boosted its stake in RLX Technology by 15.3% in the third quarter. Public Employees Retirement System of Ohio now owns 372,311 shares of the company’s stock worth $979,000 after buying an additional 49,295 shares in the last quarter. Numerai GP LLC bought a new position in RLX Technology during the third quarter valued at approximately $185,000. Mariner LLC grew its position in RLX Technology by 7,564.1% during the third quarter. Mariner LLC now owns 1,668,476 shares of the company’s stock valued at $4,388,000 after acquiring an additional 1,646,706 shares during the last quarter. Finally, National Bank of Canada FI purchased a new position in shares of RLX Technology during the third quarter worth approximately $1,052,000. 22.68% of the stock is currently owned by hedge funds and other institutional investors.

About RLX Technology

RLX Technology Inc, together with its subsidiaries, engages in the manufacture and sale of e-vapor products in the People's Republic of China and internationally. It serves partner distributors and retail outlets. The company was founded in 2018 and is headquartered in Beijing, China.