RLX Technology (NYSE:RLX) Shares Gap Up – Still a Buy?

RLX Technology Inc. (NYSE:RLX)’s share price gapped up prior to trading on Friday . The stock had previously closed at $1.63, but opened at $1.75. RLX Technology shares last traded at $1.69, with a volume of 1,668,034 shares changing hands.

RLX Technology Stock Performance

The business’s 50 day moving average price is $1.68 and its 200-day moving average price is $1.77. The company has a market cap of $2.66 billion, a price-to-earnings ratio of 40.76 and a beta of 0.93.

RLX Technology (NYSE:RLX) last posted its quarterly earnings results on Friday, August 16th. The company reported $0.01 earnings per share (EPS) for the quarter. The firm had revenue of $86.30 million during the quarter. RLX Technology had a net margin of 18.25% and a return on equity of 2.48%.

Institutional Investors Weigh In On RLX Technology

Several large investors have recently modified their holdings of the stock. SG Americas Securities LLC boosted its stake in RLX Technology by 7,420.4% in the 2nd quarter. SG Americas Securities LLC now owns 4,729,553 shares of the company’s stock valued at $8,702,000 after buying an additional 4,666,663 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of RLX Technology in the 2nd quarter worth about $146,000. Blue Trust Inc. increased its position in shares of RLX Technology by 284.8% during the 3rd quarter. Blue Trust Inc. now owns 35,428 shares of the company’s stock worth $65,000 after purchasing an additional 26,220 shares in the last quarter. Profund Advisors LLC bought a new position in RLX Technology during the 2nd quarter valued at about $72,000. Finally, Bank of New York Mellon Corp boosted its position in RLX Technology by 36.5% in the second quarter. Bank of New York Mellon Corp now owns 39,615 shares of the company’s stock valued at $73,000 after buying an additional 10,596 shares in the last quarter. 22.68% of the stock is currently owned by institutional investors.

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.