RLX Technology Inc. Sponsored ADR (NYSE:RLX) Sees Large Increase in Short Interest

RLX Technology Inc. Sponsored ADR (NYSE:RLX) was the recipient of a significant increase in short interest in the month of February. As of February 13th, there was short interest totaling 5,089,698 shares, an increase of 29.7% from the January 29th total of 3,925,665 shares. Based on an average trading volume of 2,576,757 shares, the short-interest ratio is presently 2.0 days. Approximately 0.7% of the company’s shares are short sold. Approximately 0.7% of the company’s shares are short sold. Based on an average trading volume of 2,576,757 shares, the short-interest ratio is presently 2.0 days.

RLX Technology Stock Performance

Shares of RLX Technology stock traded down $0.08 during trading on Monday, reaching $2.34. The company had a trading volume of 1,717,291 shares, compared to its average volume of 2,278,363. RLX Technology has a fifty-two week low of $1.66 and a fifty-two week high of $2.84. The firm’s fifty day moving average is $2.33 and its 200-day moving average is $2.40. The company has a market cap of $3.68 billion, a price-to-earnings ratio of 33.43 and a beta of 1.11.

RLX Technology declared that its Board of Directors has approved a stock repurchase program on Wednesday, December 31st that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

RLX has been the topic of a number of recent research reports. Wall Street Zen cut shares of RLX Technology from a “hold” rating to a “sell” rating in a research report on Tuesday, January 20th. Weiss Ratings reissued a “hold (c)” rating on shares of RLX Technology in a research note on Thursday, January 22nd. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $2.25.

Hedge Funds Weigh In On RLX Technology

A number of hedge funds have recently added to or reduced their stakes in RLX. Profund Advisors LLC increased its stake in RLX Technology by 21.0% during the third quarter. Profund Advisors LLC now owns 40,305 shares of the company’s stock valued at $106,000 after purchasing an additional 7,006 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in shares of RLX Technology by 2.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 380,820 shares of the company’s stock valued at $887,000 after buying an additional 8,509 shares during the period. Franklin Resources Inc. grew its position in shares of RLX Technology by 2.2% during the 3rd quarter. Franklin Resources Inc. now owns 482,778 shares of the company’s stock valued at $1,270,000 after buying an additional 10,522 shares during the last quarter. Schonfeld Strategic Advisors LLC acquired a new stake in RLX Technology during the fourth quarter worth about $26,000. Finally, Insigneo Advisory Services LLC acquired a new stake in RLX Technology during the fourth quarter worth about $29,000. Institutional investors and hedge funds own 22.68% of the company’s stock.

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.