RLX Technology Inc. (NYSE:RLX) Short Interest Update

RLX Technology Inc. (NYSE:RLX) was the target of a significant drop in short interest in the month of February. As of February 28th, there was short interest totalling 11,470,000 shares, a drop of 17.5% from the February 13th total of 13,900,000 shares. Currently, 1.3% of the company’s shares are short sold. Based on an average daily volume of 5,160,000 shares, the short-interest ratio is presently 2.2 days.

RLX Technology Trading Down 0.2 %

Shares of RLX Technology stock traded down $0.01 during trading on Thursday, hitting $2.02. 2,854,118 shares of the stock traded hands, compared to its average volume of 4,605,182. The firm has a market cap of $3.17 billion, a P/E ratio of 50.39 and a beta of 0.93. RLX Technology has a 52-week low of $1.50 and a 52-week high of $2.69. The stock’s fifty day simple moving average is $2.27 and its 200 day simple moving average is $1.97.

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

Hedge Funds Weigh In On RLX Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in RLX. Connor Clark & Lunn Investment Management Ltd. purchased a new position in RLX Technology in the third quarter valued at about $108,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake 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 during the last quarter. Point72 Hong Kong Ltd purchased a new position in RLX Technology in the third quarter valued at about $2,386,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in RLX Technology in the third quarter valued at about $139,000. Finally, Centiva Capital LP purchased a new position in RLX Technology in the third quarter valued at about $29,000. Hedge funds and other institutional investors own 22.68% of the company’s stock.

Analysts Set New Price Targets

Separately, Citigroup lowered RLX Technology from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $2.80 to $2.50 in a research note on Monday.

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.