RLX Technology Inc. (NYSE:RLX – Get Free Report)’s stock price was up 8.1% during mid-day trading on Wednesday . The company traded as high as $2.09 and last traded at $2.07. Approximately 9,366,546 shares traded hands during mid-day trading, an increase of 15% from the average daily volume of 8,118,837 shares. The stock had previously closed at $1.91.
Analysts Set New Price Targets
Several research analysts recently commented on RLX shares. Citigroup reduced their price objective on RLX Technology from $3.15 to $2.40 in a research note on Friday, August 18th. UBS Group initiated coverage on shares of RLX Technology in a research report on Tuesday, August 8th. They set a “buy” rating and a $2.60 price target on the stock.
RLX Technology Stock Up 0.5 %
RLX Technology (NYSE:RLX – Get Free Report) last released its quarterly earnings results on Friday, August 18th. The company reported $0.02 EPS for the quarter. RLX Technology had a return on equity of 0.45% and a net margin of 5.32%. The company had revenue of $52.15 million for the quarter.
RLX Technology Announces Dividend
The company also recently announced a Variable dividend, which will be paid on Friday, December 22nd. Investors of record on Friday, December 1st will be paid a dividend of $0.01 per share. This represents a yield of 0.4%. The ex-dividend date of this dividend is Thursday, November 30th.
Institutional Trading of RLX Technology
A number of institutional investors and hedge funds have recently bought and sold shares of RLX. Squarepoint Ops LLC grew its holdings in shares of RLX Technology by 25.9% in the fourth quarter. Squarepoint Ops LLC now owns 53,603 shares of the company’s stock valued at $123,000 after purchasing an additional 11,013 shares in the last quarter. PNC Financial Services Group Inc. purchased a new stake in RLX Technology during the 4th quarter worth about $27,000. Apollon Wealth Management LLC acquired a new stake in RLX Technology in the 1st quarter valued at about $38,000. Bank of New York Mellon Corp boosted its stake in shares of RLX Technology by 3.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 400,783 shares of the company’s stock valued at $421,000 after buying an additional 14,296 shares during the period. Finally, UBS Group AG grew its position in shares of RLX Technology by 30.0% during the third quarter. UBS Group AG now owns 71,678 shares of the company’s stock worth $108,000 after buying an additional 16,526 shares in the last quarter. 22.68% of the stock is currently owned by hedge funds and other institutional investors.
About RLX Technology
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.
- Five stocks we like better than RLX Technology
- What Are Dividends? Buy the Best Dividend Stocks
- Williams-Sonoma is a steal for buy-and-hold investors
- How to Analyze Restaurant Stocks
- A closer look at Warren Buffett’s latest surprise purchase
- Investing in Blue-Chip Stocks
- GE stock surges to six-year high: What’s behind the move?
Receive News & Ratings for RLX Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RLX Technology and related companies with MarketBeat.com's FREE daily email newsletter.