RLX Technology (NYSE:RLX) Coverage Initiated by Analysts at UBS Group

Posted by on Aug 9th, 2023

UBS Group assumed coverage on shares of RLX Technology (NYSE:RLX – Free Report) in a research note published on Tuesday, Marketbeat reports. The brokerage issued a buy rating and a $2.60 price target on the stock.

RLX Technology Stock Up 0.9 %

NYSE:RLX opened at $1.64 on Tuesday. RLX Technology has a 52 week low of $0.90 and a 52 week high of $3.06. The firm’s fifty day moving average is $1.73 and its 200-day moving average is $2.18.

RLX Technology (NYSE:RLX – Get Free Report) last issued its quarterly earnings results on Wednesday, May 17th. The company reported ($0.01) EPS for the quarter. RLX Technology had a net margin of 17.62% and a return on equity of 4.42%. The firm had revenue of $27.50 million for the quarter.

Institutional Trading of RLX Technology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RLX. BlackRock Inc. increased its position in RLX Technology by 8.3% in the 1st quarter. BlackRock Inc. now owns 28,218,391 shares of the company’s stock valued at $50,510,000 after buying an additional 2,160,418 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in RLX Technology by 30.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 475,660 shares of the company’s stock worth $851,000 after purchasing an additional 112,260 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of RLX Technology by 1.0% in the first quarter. Vanguard Group Inc. now owns 27,034,486 shares of the company’s stock valued at $48,392,000 after purchasing an additional 257,261 shares in the last quarter. Bridgewater Associates LP lifted its holdings in shares of RLX Technology by 22.0% in the first quarter. Bridgewater Associates LP now owns 2,347,335 shares of the company’s stock valued at $4,202,000 after purchasing an additional 423,046 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of RLX Technology by 186.4% during the first quarter. Renaissance Technologies LLC now owns 2,713,400 shares of the company’s stock valued at $4,857,000 after buying an additional 1,766,100 shares during the last quarter.

About RLX Technology

(Get Free Report)

RLX Technology Inc, together with its subsidiaries, manufactures, distributes, and sells e-vapor products in the People's Republic of China. It serves partner distributors and other retail outlets. The company was founded in 2018 and is headquartered in Beijing, China.

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