RLX Technology (NYSE:RLX) Price Target Lowered to $2.25 at Citigroup

RLX Technology (NYSE:RLX) had its price target reduced by Citigroup from $2.50 to $2.25 in a research note released on Monday,Benzinga reports. They currently have a neutral rating on the stock.

RLX Technology Stock Performance

NYSE RLX opened at $1.97 on Monday. The firm’s fifty day moving average price is $1.87 and its two-hundred day moving average price is $2.01. The stock has a market cap of $3.09 billion, a PE ratio of 49.26 and a beta of 1.03. RLX Technology has a fifty-two week low of $1.50 and a fifty-two week high of $2.69.

RLX Technology (NYSE:RLX) last posted its earnings results on Friday, May 16th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.15). RLX Technology had a net margin of 15.70% and a return on equity of 2.48%. The firm had revenue of $111.35 million during the quarter, compared to the consensus estimate of $763.38 million.

Institutional Trading of RLX Technology

Several institutional investors have recently modified their holdings of the business. Franklin Resources Inc. raised its position in RLX Technology by 14.5% during the 3rd quarter. Franklin Resources Inc. now owns 293,830 shares of the company’s stock worth $497,000 after purchasing an additional 37,294 shares during the last quarter. Barclays PLC increased its stake in shares of RLX Technology by 5.0% in the third quarter. Barclays PLC now owns 110,471 shares of the company’s stock valued at $200,000 after buying an additional 5,267 shares during the period. SG Americas Securities LLC raised its position in shares of RLX Technology by 7.6% during the fourth quarter. SG Americas Securities LLC now owns 303,215 shares of the company’s stock worth $655,000 after acquiring an additional 21,476 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of RLX Technology in the fourth quarter worth approximately $31,000. Finally, Catalina Capital Group LLC acquired a new position in shares of RLX Technology in the fourth quarter worth approximately $63,000. Institutional investors own 22.68% of the company’s stock.

RLX Technology Company 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.