RLX Technology (NYSE:RLX) Shares Gap Down – What’s Next?

RLX Technology Inc. Sponsored ADR (NYSE:RLX) shares gapped down prior to trading on Friday . The stock had previously closed at $2.15, but opened at $2.02. RLX Technology shares last traded at $2.0750, with a volume of 1,710,199 shares traded.

Wall Street Analysts Forecast Growth

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

RLX Technology Stock Down 3.5%

The business has a 50-day moving average price of $2.18 and a two-hundred day moving average price of $2.29. The firm has a market cap of $3.21 billion, a PE ratio of 20.75 and a beta of 1.16.

RLX Technology (NYSE:RLX) last posted its quarterly earnings data on Wednesday, May 20th. The company reported $0.03 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.03. RLX Technology had a return on equity of 6.19% and a net margin of 20.76%.The business had revenue of $230.01 million for the quarter, compared to analyst estimates of $166.99 million.

Hedge Funds Weigh In On RLX Technology

Several large investors have recently bought and sold shares of RLX. Schonfeld Strategic Advisors LLC purchased a new position in RLX Technology in the fourth quarter valued at $26,000. Insigneo Advisory Services LLC purchased a new position in RLX Technology in the fourth quarter valued at $29,000. AXQ Capital LP purchased a new position in RLX Technology in the fourth quarter valued at $30,000. Dimensional Fund Advisors LP purchased a new position in RLX Technology in the first quarter valued at $32,000. Finally, SmartHarvest Portfolios LLC purchased a new position in RLX Technology in the fourth quarter valued at $40,000. Hedge funds and other institutional investors 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.