RLX Technology (NYSE:RLX) Stock Price Down 4.3% – Here’s Why

RLX Technology Inc. (NYSE:RLX) shares were down 4.3% during mid-day trading on Tuesday . The stock traded as low as $1.88 and last traded at $1.89. Approximately 1,634,456 shares changed hands during trading, a decline of 65% from the average daily volume of 4,655,946 shares. The stock had previously closed at $1.97.

RLX Technology Stock Performance

The firm has a 50-day moving average of $1.73 and a 200-day moving average of $1.75. The firm has a market capitalization of $2.87 billion, a P/E ratio of 45.76 and a beta of 1.03.

RLX Technology Dividend Announcement

The firm also recently disclosed an annual dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a $0.01 dividend. This represents a yield of 0.59%. The ex-dividend date is Friday, December 6th.

Institutional Investors Weigh In On RLX Technology

Several institutional investors and hedge funds have recently bought and sold shares of RLX. Centiva Capital LP purchased a new stake in RLX Technology in the 3rd quarter worth approximately $29,000. Blue Trust Inc. lifted its stake in shares of RLX Technology by 284.8% in the 3rd quarter. Blue Trust Inc. now owns 35,428 shares of the company’s stock valued at $65,000 after purchasing an additional 26,220 shares during the period. Profund Advisors LLC purchased a new position in shares of RLX Technology in the 2nd quarter valued at approximately $72,000. Bank of New York Mellon Corp lifted its stake in shares of RLX Technology by 36.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 39,615 shares of the company’s stock valued at $73,000 after purchasing an additional 10,596 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in RLX Technology during the third quarter valued at $108,000. Hedge funds and other 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.