RLX Technology (NYSE:RLX) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of RLX Technology (NYSE:RLX) from a hold rating to a sell rating in a research report sent to investors on Saturday morning.

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of RLX Technology in a report on Friday, July 17th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $2.50.

RLX Technology Stock Performance

RLX Technology stock opened at $1.81 on Friday. RLX Technology has a fifty-two week low of $1.76 and a fifty-two week high of $2.84. The stock has a market cap of $2.81 billion, a PE ratio of 17.29 and a beta of 1.20. The firm’s 50-day simple moving average is $1.94 and its 200 day simple moving average is $2.11.

RLX Technology (NYSE:RLX) last posted its quarterly earnings data on Friday, August 14th. The company reported $0.03 EPS for the quarter, missing the consensus estimate 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 Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Schonfeld Strategic Advisors LLC purchased a new stake in RLX Technology in the 4th quarter worth about $26,000. Insigneo Advisory Services LLC purchased a new stake in RLX Technology during the fourth quarter valued at about $29,000. AXQ Capital LP purchased a new stake in RLX Technology during the fourth quarter valued at about $30,000. Dimensional Fund Advisors LP bought a new position in RLX Technology during the first quarter worth about $32,000. Finally, SmartHarvest Portfolios LLC bought a new position in RLX Technology during the fourth quarter worth about $40,000. Hedge funds and other institutional investors own 22.68% of the company’s stock.

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.