RLX Technology (NYSE:RLX) Sets New 52-Week Low – What’s Next?

Shares of RLX Technology Inc. Sponsored ADR (NYSE:RLX) hit a new 52-week low on Wednesday . The company traded as low as $1.81 and last traded at $1.8550, with a volume of 211718 shares trading hands. The stock had previously closed at $1.83.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Wall Street Zen upgraded shares of RLX Technology from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. Weiss Ratings restated a “hold (c)” rating on shares of RLX Technology in a report on Tuesday, April 21st. Finally, Citigroup cut their price objective on shares of RLX Technology from $2.60 to $2.50 and set a “neutral” rating on the stock in a research report on Monday, March 16th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, RLX Technology currently has a consensus rating of “Hold” and an average target price of $2.50.

RLX Technology Stock Performance

The stock has a market cap of $2.84 billion, a PE ratio of 18.35 and a beta of 1.13. The firm has a fifty day moving average price of $2.09 and a 200 day moving average price of $2.22.

RLX Technology (NYSE:RLX) last announced its earnings results on Wednesday, May 20th. The company reported $0.03 earnings per share for the quarter, hitting the consensus estimate of $0.03. RLX Technology had a return on equity of 6.15% and a net margin of 20.76%.The firm had revenue of $230.01 million for the quarter, compared to the consensus estimate of $166.99 million.

Institutional Trading of RLX Technology

A number of institutional investors have recently bought and sold shares of RLX. Schonfeld Strategic Advisors LLC acquired a new position in RLX Technology during the 4th quarter valued at approximately $26,000. Insigneo Advisory Services LLC acquired a new stake in shares of RLX Technology during the fourth quarter worth $29,000. AXQ Capital LP purchased a new stake in shares of RLX Technology during the fourth quarter valued at $30,000. Dimensional Fund Advisors LP purchased a new stake in shares of RLX Technology during the first quarter valued at $32,000. Finally, SmartHarvest Portfolios LLC purchased a new stake in shares of RLX Technology during the fourth quarter valued at $40,000. 22.68% of the stock is currently 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.