RLX Technology Inc. (NYSE:RLX) Stake Lifted by Yong Rong HK Asset Management Ltd

Yong Rong HK Asset Management Ltd boosted its position in RLX Technology Inc. (NYSE:RLX) by 5.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 2,000,000 shares of the company’s stock after purchasing an additional 100,000 shares during the quarter. RLX Technology comprises approximately 1.5% of Yong Rong HK Asset Management Ltd’s investment portfolio, making the stock its 13th biggest holding. Yong Rong HK Asset Management Ltd’s holdings in RLX Technology were worth $4,000,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Headlands Technologies LLC bought a new stake in shares of RLX Technology in the 4th quarter worth approximately $215,000. SG Americas Securities LLC grew its position in RLX Technology by 151.4% in the fourth quarter. SG Americas Securities LLC now owns 168,132 shares of the company’s stock worth $336,000 after buying an additional 101,263 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of RLX Technology in the fourth quarter valued at $705,000. Vanguard Group Inc. lifted its position in shares of RLX Technology by 1.9% during the 3rd quarter. Vanguard Group Inc. now owns 31,061,726 shares of the company’s stock valued at $46,903,000 after acquiring an additional 578,728 shares during the last quarter. Finally, Regal Partners Ltd bought a new stake in shares of RLX Technology during the 3rd quarter worth $235,000. 22.68% of the stock is owned by institutional investors.

RLX Technology Stock Performance

Shares of RLX stock traded up $0.01 on Wednesday, reaching $1.95. 879,872 shares of the company’s stock traded hands, compared to its average volume of 5,681,833. The company has a market capitalization of $3.06 billion, a P/E ratio of 38.90 and a beta of 0.98. RLX Technology Inc. has a 12-month low of $1.39 and a 12-month high of $2.51. The business’s 50 day moving average price is $1.90 and its two-hundred day moving average price is $1.90.

RLX Technology (NYSE:RLX) last announced its quarterly earnings data on Friday, March 15th. The company reported $0.02 EPS for the quarter. RLX Technology had a return on equity of 3.32% and a net margin of 34.74%. The firm had revenue of $73.31 million during the quarter.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on RLX. Citigroup boosted their target price on RLX Technology from $2.40 to $2.76 and gave the stock a “buy” rating in a research report on Monday, March 18th. TheStreet upgraded RLX Technology from a “d” rating to a “c-” rating in a report on Monday, March 18th.

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.