RLX Technology (NYSE:RLX) Stock Rating Lowered by Citigroup

RLX Technology (NYSE:RLX) was downgraded by equities researchers at Citigroup from a “buy” rating to a “neutral” rating in a research note issued to investors on Monday, Marketbeat Ratings reports. They presently have a $2.50 price target on the stock, down from their previous price target of $2.80. Citigroup’s price target would indicate a potential upside of 19.90% from the stock’s current price.

RLX Technology Stock Up 6.4 %

NYSE RLX opened at $2.09 on Monday. RLX Technology has a 52 week low of $1.50 and a 52 week high of $2.69. The firm has a 50 day moving average of $2.27 and a two-hundred day moving average of $1.97. The stock has a market capitalization of $3.28 billion, a PE ratio of 52.14 and a beta of 0.93.

RLX Technology (NYSE:RLX) last issued its earnings results on Friday, March 14th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.19). RLX Technology had a return on equity of 2.48% and a net margin of 15.70%. The firm had revenue of $111.46 million for the quarter, compared to analyst estimates of $764.69 million.

Institutional Trading of RLX Technology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RLX. Cache Advisors LLC purchased a new position in shares of RLX Technology in the 4th quarter valued at $155,000. Public Employees Retirement System of Ohio grew its holdings in shares of RLX Technology by 58.0% during the fourth quarter. Public Employees Retirement System of Ohio now owns 193,389 shares of the company’s stock worth $418,000 after purchasing an additional 71,026 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of RLX Technology by 9.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 668,706 shares of the company’s stock worth $1,444,000 after purchasing an additional 56,639 shares in the last quarter. Two Sigma Advisers LP lifted its holdings in shares of RLX Technology by 192.7% in the 4th quarter. Two Sigma Advisers LP now owns 55,900 shares of the company’s stock valued at $121,000 after purchasing an additional 36,800 shares during the last quarter. Finally, Two Sigma Investments LP boosted its position in shares of RLX Technology by 1,127.4% in the 4th quarter. Two Sigma Investments LP now owns 1,158,917 shares of the company’s stock valued at $2,503,000 after purchasing an additional 1,064,500 shares during the period. Institutional investors and hedge funds own 22.68% of the company’s stock.

About RLX Technology

RLX Technology Inc, together with its subsidiaries, engages in the manufacture and sale of e-vapor products in the People's Republic of China and internationally. It serves partner distributors and retail outlets. The company was founded in 2018 and is headquartered in Beijing, China.