RLX Technology (NYSE:RLX) Sets New 1-Year Low – Should You Sell?

RLX Technology Inc. Sponsored ADR (NYSE:RLX)’s share price hit a new 52-week low during trading on Wednesday. The stock traded as low as $1.6429 and last traded at $1.6450, with a volume of 180,167 shares changing hands. The stock had previously closed at $1.68.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on RLX. Weiss Ratings restated a “hold (c)” rating on shares of RLX Technology in a report on Thursday, October 15th. Wall Street Zen upgraded shares of RLX Technology from a “sell” rating to a “hold” rating in a research note on Saturday, September 19th. Two equities research analysts have rated the stock with a Hold rating. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $2.50.

RLX Technology Stock Performance

The stock has a market capitalization of $2.55 billion, a P/E ratio of 15.67 and a beta of 1.14. The business has a 50-day moving average price of $1.76 and a 200 day moving average price of $1.94.

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

Hedge Funds Weigh In On RLX Technology

A number of institutional investors and hedge funds have recently made changes to their positions in RLX. Assenagon Asset Management S.A. raised its holdings in RLX Technology by 105.5% during the third quarter. Assenagon Asset Management S.A. now owns 1,495,059 shares of the company’s stock valued at $2,542,000 after acquiring an additional 767,549 shares during the period. WINTON GROUP Ltd grew its position in shares of RLX Technology by 177.7% during the second quarter. WINTON GROUP Ltd now owns 117,910 shares of the company’s stock worth $224,000 after purchasing an additional 75,443 shares in the last quarter. Engineers Gate Manager LP purchased a new stake in shares of RLX Technology during the second quarter worth about $71,000. Headlands Technologies LLC raised its stake in RLX Technology by 26.0% during the 2nd quarter. Headlands Technologies LLC now owns 69,479 shares of the company’s stock valued at $132,000 after purchasing an additional 14,350 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new stake in RLX Technology during the 2nd quarter valued at approximately $674,000. Hedge funds and other institutional investors own 22.68% of the company’s stock.

About RLX Technology

RLX Technology Inc is a China-based consumer technology company focused on the design, development and sale of vaping products. The company operates primarily through its RELX brand, which offers electronic vaporizer devices, replacement pods and related accessories in a variety of flavors and formats.

Founded in 2018 and headquartered in Beijing, RLX Technology has developed capabilities spanning product research and development, atomization technology, manufacturing, marketing and distribution.