56,905 Shares in RLX Technology Inc. (NYSE:RLX) Acquired by Quantbot Technologies LP

Quantbot Technologies LP purchased a new stake in RLX Technology Inc. (NYSE:RLX) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 56,905 shares of the company’s stock, valued at approximately $123,000.

Several other institutional investors and hedge funds also recently made changes to their positions in RLX. Point72 Hong Kong Ltd bought a new stake in shares of RLX Technology in the third quarter valued at about $2,386,000. Point72 Asset Management L.P. raised its holdings in shares of RLX Technology by 8,292.2% in the third quarter. Point72 Asset Management L.P. now owns 1,313,300 shares of the company’s stock valued at $2,377,000 after purchasing an additional 1,297,651 shares during the last quarter. Hosking Partners LLP lifted its position in shares of RLX Technology by 24.8% in the fourth quarter. Hosking Partners LLP now owns 981,533 shares of the company’s stock worth $2,120,000 after purchasing an additional 194,770 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in RLX Technology by 1,239.1% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 801,104 shares of the company’s stock worth $1,730,000 after purchasing an additional 741,281 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in RLX Technology by 58.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 612,067 shares of the company’s stock valued at $1,108,000 after purchasing an additional 225,200 shares in the last quarter. Institutional investors and hedge funds own 22.68% of the company’s stock.

Analysts Set New Price Targets

Separately, Citigroup downgraded shares of RLX Technology from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $2.80 to $2.50 in a research note on Monday, March 17th.

RLX Technology Stock Down 2.3 %

Shares of RLX Technology stock opened at $1.92 on Monday. The stock has a market cap of $3.01 billion, a P/E ratio of 47.89 and a beta of 0.93. RLX Technology Inc. has a 12-month low of $1.50 and a 12-month high of $2.69. The business’s 50 day moving average is $2.23 and its 200-day moving average is $1.98.

RLX Technology (NYSE:RLX) last posted its quarterly earnings results on Friday, March 14th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate 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 the consensus estimate of $764.69 million.

RLX Technology Profile

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.