RLX Technology (NYSE:RLX) Stock Price Up 8.1%

RLX Technology Inc. (NYSE:RLX)’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 %

The business’s 50 day moving average price is $1.60 and its 200-day moving average price is $1.74.

RLX Technology (NYSE:RLX) 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.