RLX Technology (NYSE:RLX) Reaches New 12-Month Low – What’s Next?

RLX Technology Inc. Sponsored ADR (NYSE:RLX) shares hit a new 52-week low on Tuesday . The stock traded as low as $1.76 and last traded at $1.7650, with a volume of 1612881 shares. The stock had previously closed at $1.83.

Wall Street Analysts Forecast Growth

Several brokerages have commented on RLX. Wall Street Zen cut shares of RLX Technology from a “hold” rating to a “sell” rating in a research report on Saturday, August 22nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of RLX Technology in a research report on Friday, July 17th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, RLX Technology presently has an average rating of “Hold” and an average price target of $2.50.

RLX Technology Price Performance

The company has a market cap of $2.76 billion, a PE ratio of 16.95 and a beta of 1.20. The business’s 50 day moving average is $1.93 and its 200-day moving average is $2.09.

RLX Technology (NYSE:RLX) last announced its quarterly earnings data on Friday, August 14th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.06). RLX Technology had a net margin of 20.24% and a return on equity of 6.20%. The firm had revenue of $148.73 million during the quarter, compared to analysts’ expectations of $173.99 million.

Institutional Trading of RLX Technology

A number of institutional investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio lifted its holdings in RLX Technology by 2.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 380,820 shares of the company’s stock worth $887,000 after buying an additional 8,509 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of RLX Technology by 2.2% in the 3rd quarter. Franklin Resources Inc. now owns 482,778 shares of the company’s stock valued at $1,270,000 after acquiring an additional 10,522 shares during the last quarter. Schonfeld Strategic Advisors LLC acquired a new stake in shares of RLX Technology during the 4th quarter worth about $26,000. Insigneo Advisory Services LLC acquired a new stake in shares of RLX Technology during the 4th quarter worth about $29,000. Finally, AXQ Capital LP purchased a new stake in RLX Technology during the fourth quarter worth approximately $30,000. 22.68% of the stock is owned by hedge funds and other institutional investors.

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.