Panagora Asset Management Inc. acquired a new stake in shares of RLX Technology Inc. (NYSE:RLX – Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 30,282 shares of the company’s stock, valued at approximately $61,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Quadrant Capital Group LLC increased its position in RLX Technology by 18.0% in the fourth quarter. Quadrant Capital Group LLC now owns 92,575 shares of the company’s stock worth $185,000 after purchasing an additional 14,124 shares during the last quarter. Jump Financial LLC bought a new stake in RLX Technology in the fourth quarter worth $522,000. E Fund Management Co. Ltd. bought a new stake in RLX Technology in the fourth quarter worth $705,000. Yong Rong HK Asset Management Ltd increased its position in RLX Technology by 5.3% in the fourth quarter. Yong Rong HK Asset Management Ltd now owns 2,000,000 shares of the company’s stock worth $4,000,000 after purchasing an additional 100,000 shares during the last quarter. Finally, Headlands Technologies LLC bought a new stake in RLX Technology in the fourth quarter worth $215,000. Institutional investors own 22.68% of the company’s stock.
Wall Street Analysts Forecast Growth
RLX has been the subject of several recent analyst reports. Citigroup lifted their price objective on shares of RLX Technology from $2.40 to $2.76 and gave the stock a “buy” rating in a research note on Monday, March 18th. TheStreet raised shares of RLX Technology from a “d” rating to a “c-” rating in a research note on Monday, March 18th.
Get Our Latest Report on RLX Technology
RLX Technology Stock Down 1.0 %
NYSE RLX opened at $1.91 on Monday. The company has a fifty day moving average of $1.93 and a two-hundred day moving average of $1.95. The firm has a market capitalization of $3.00 billion, a price-to-earnings ratio of 38.21 and a beta of 0.93. RLX Technology Inc. has a 52 week low of $1.39 and a 52 week high of $2.40.
RLX Technology (NYSE:RLX – Get Free Report) last issued its earnings results on Friday, March 15th. The company reported $0.02 earnings per share (EPS) for the quarter. The firm had revenue of $73.31 million during the quarter. RLX Technology had a net margin of 24.39% and a return on equity of 2.91%.
About RLX Technology
(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.
Further Reading
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