RLX Technology (NYSE:RLX) Trading 2.8% Higher – Here’s What Happened

RLX Technology Inc. Sponsored ADR (NYSE:RLX) shares shot up 2.8% during trading on Wednesday . The company traded as high as $2.39 and last traded at $2.3550. 205,531 shares changed hands during mid-day trading, a decline of 95% from the average session volume of 3,883,195 shares. The stock had previously closed at $2.29.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Wall Street Zen upgraded RLX Technology from a “sell” rating to a “hold” rating in a research report on Saturday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of RLX Technology in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $2.25.

RLX Technology Stock Performance

The firm has a market capitalization of $3.67 billion, a price-to-earnings ratio of 33.36 and a beta of 1.09. The company has a 50 day moving average price of $2.39 and a two-hundred day moving average price of $2.37.

RLX Technology (NYSE:RLX) last posted its quarterly earnings data on Friday, November 14th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). RLX Technology had a return on equity of 4.74% and a net margin of 21.05%.The company had revenue of $158.63 million for the quarter, compared to analyst estimates of $139.99 million.

RLX Technology Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Monday, February 9th. Shareholders of record on Monday, January 26th will be paid a dividend of $0.10 per share. This is an increase from RLX Technology’s previous annual dividend of $0.01. The ex-dividend date is Monday, January 26th. This represents a yield of 390.0%. RLX Technology’s dividend payout ratio (DPR) is presently 142.86%.

Institutional Trading of RLX Technology

A number of institutional investors have recently made changes to their positions in RLX. Virtus Advisers LLC purchased a new stake in shares of RLX Technology during the third quarter worth approximately $115,000. Public Employees Retirement System of Ohio grew its holdings in shares of RLX Technology by 15.3% during 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 purchased a new stake in shares of RLX Technology during the third quarter worth $185,000. Mariner LLC raised its position in shares of RLX Technology by 7,564.1% in the third quarter. Mariner LLC now owns 1,668,476 shares of the company’s stock valued at $4,388,000 after buying 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 in the third quarter worth about $1,052,000. 22.68% of the stock is owned by institutional investors and hedge funds.

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.