Pictet Asset Management Holding SA Increases Position in RLX Technology Inc. (NYSE:RLX)

Pictet Asset Management Holding SA increased its holdings in RLX Technology Inc. (NYSE:RLX) by 29.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 243,467 shares of the company’s stock after acquiring an additional 55,000 shares during the period. Pictet Asset Management Holding SA’s holdings in RLX Technology were worth $526,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Centiva Capital LP bought a new position in RLX Technology in the 3rd quarter valued at $29,000. Janney Montgomery Scott LLC purchased a new position in shares of RLX Technology in the 4th quarter worth about $31,000. Mirae Asset Global Investments Co. Ltd. bought a new position in RLX Technology during the fourth quarter valued at about $42,000. Catalina Capital Group LLC purchased a new stake in RLX Technology during the fourth quarter worth about $63,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in RLX Technology during the third quarter worth about $118,000. 22.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

RLX Technology Price Performance

NYSE:RLX opened at $1.84 on Wednesday. The company has a market capitalization of $2.88 billion, a P/E ratio of 45.89 and a beta of 1.03. The business has a fifty day simple moving average of $2.18 and a two-hundred day simple moving average of $1.99. RLX Technology Inc. has a 1 year low of $1.50 and a 1 year high of $2.69.

RLX Technology (NYSE:RLX) last announced its quarterly earnings data on Friday, March 14th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.19). The firm had revenue of $111.46 million during the quarter, compared to analysts’ expectations of $764.69 million. RLX Technology had a return on equity of 2.48% and a net margin of 15.70%.

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.