RLX Technology (NYSE:RLX) Shares Gap Up - Time to Buy?
RLX Technology's shares gapped up, opening at $2.47 from a previous close of $2.33, trading at $2.4950. Analysts have given RLX a Hold rating, with a consensus price target of $2.25. The company reported quarterly earnings of $0.02 EPS, missing estimates. Institutional investors have modified their holdings, with Vanguard and Charles Schwab increasing their stakes. RLX Technology manufactures e-vapor products in China and internationally. Despite the Hold rating, analysts suggest other stocks may be better investments.
Shares of RLX Technology Inc. Sponsored ADR (NYSE:RLX - Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $2.33, but opened at $2.47. RLX Technology shares last traded at $2.4950, with a volume of 2,760,194 shares trading hands.
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Analyst Upgrades and Downgrades
RLX has been the topic of several recent research reports. Weiss Ratings restated a "hold (c)" rating on shares of RLX Technology in a report on Wednesday, October 8th. Wall Street Zen upgraded RLX Technology from a "sell" rating to a "hold" rating in a report on Saturday, August 30th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $2.25.
Read Our Latest Report on RLX Technology
RLX Technology Trading Up 7.5%
The stock has a 50-day simple moving average of $2.47 and a 200 day simple moving average of $2.27. The company has a market cap of $3.93 billion, a price-to-earnings ratio of 35.79 and a beta of 1.10.
RLX Technology (NYSE:RLX - Get Free Report) last announced its quarterly earnings data on Friday, November 14th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.01). RLX Technology had a net margin of 22.32% and a return on equity of 4.54%.
RLX Technology Announces Dividend
The business also recently declared an annual dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were given a dividend of $0.01 per share. This represents a yield of 38.0%. The ex-dividend date was Friday, September 12th. RLX Technology's dividend payout ratio (DPR) is currently 14.29%.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of RLX. Vanguard Group Inc. boosted its holdings in RLX Technology by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 27,935,598 shares of the company's stock worth $52,519,000 after buying an additional 156,350 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in RLX Technology by 10.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 866,827 shares of the company's stock valued at $1,630,000 after purchasing an additional 82,413 shares in the last quarter. Headlands Technologies LLC boosted its stake in RLX Technology by 411.8% during the 1st quarter. Headlands Technologies LLC now owns 25,766 shares of the company's stock worth $48,000 after purchasing an additional 20,732 shares during the last quarter. Hosking Partners LLP grew its holdings in shares of RLX Technology by 113.3% during the first quarter. Hosking Partners LLP now owns 2,093,781 shares of the company's stock worth $3,936,000 after buying an additional 1,112,248 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in RLX Technology by 73.6% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,390,852 shares of the company's stock worth $2,615,000 after purchasing an additional 589,748 shares in the last quarter. Institutional investors and hedge funds own 22.68% of the company's stock.
About RLX Technology
(Get Free Report)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.
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