RLX Technology (NYSE:RLX) Trading Up 5.5% – Time to Buy?

Shares of RLX Technology Inc. Sponsored ADR (NYSE:RLX) rose 5.5% during mid-day trading on Wednesday . The stock traded as high as $2.01 and last traded at $2.0050. 960,369 shares traded hands during trading, a decline of 62% from the average session volume of 2,533,799 shares. The stock had previously closed at $1.90.

Wall Street Analyst Weigh In

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

RLX Technology Price Performance

The company has a market cap of $3.06 billion, a P/E ratio of 19.75 and a beta of 1.16. The stock has a 50-day moving average of $2.03 and a 200 day moving average of $2.19.

RLX Technology (NYSE:RLX) last announced 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 net margin of 20.76% and a return on equity of 6.15%. The firm had revenue of $230.01 million for the quarter, compared to the consensus estimate of $166.99 million.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Schonfeld Strategic Advisors LLC acquired a new position in RLX Technology during the fourth quarter valued at approximately $26,000. Insigneo Advisory Services LLC acquired a new stake in shares of RLX Technology in the 4th quarter valued at $29,000. AXQ Capital LP acquired a new stake in shares of RLX Technology in the 4th quarter valued at $30,000. Dimensional Fund Advisors LP bought a new position in shares of RLX Technology in the 1st quarter valued at $32,000. Finally, SmartHarvest Portfolios LLC acquired a new position in shares of RLX Technology during the 4th quarter worth $40,000. 22.68% of the stock is owned by institutional investors.

About RLX Technology

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.