RLX Technology Inc. (NYSE:RLX) Shares Purchased by Bank of America Corp DE

Bank of America Corp DE increased its position in RLX Technology Inc. (NYSE:RLX) by 6.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 166,949 shares of the company’s stock after purchasing an additional 9,512 shares during the period. Bank of America Corp DE’s holdings in RLX Technology were worth $361,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RLX. Janney Montgomery Scott LLC acquired a new position in RLX Technology in the 4th quarter worth approximately $31,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of RLX Technology during the 4th quarter valued at $42,000. Hosking Partners LLP boosted its stake in shares of RLX Technology by 24.8% during the 4th quarter. Hosking Partners LLP now owns 981,533 shares of the company’s stock valued at $2,120,000 after buying an additional 194,770 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of RLX Technology by 1,239.1% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 801,104 shares of the company’s stock valued at $1,730,000 after buying an additional 741,281 shares during the period. Finally, Virtu Financial LLC boosted its stake in shares of RLX Technology by 52.2% during the 4th quarter. Virtu Financial LLC now owns 129,401 shares of the company’s stock valued at $280,000 after buying an additional 44,354 shares during the period. Institutional investors and hedge funds own 22.68% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on RLX. Wall Street Zen downgraded shares of RLX Technology from a “hold” rating to a “sell” rating in a report on Saturday, May 24th. Citigroup dropped their target price on shares of RLX Technology from $2.50 to $2.25 and set a “neutral” rating on the stock in a report on Monday, May 19th.

RLX Technology Price Performance

NYSE:RLX opened at $2.18 on Friday. The firm has a market cap of $3.42 billion, a PE ratio of 54.51 and a beta of 1.07. RLX Technology Inc. has a 12 month low of $1.50 and a 12 month high of $2.69. The company’s 50-day moving average price is $1.91 and its two-hundred day moving average price is $2.06.

RLX Technology (NYSE:RLX) last released its quarterly earnings results on Friday, May 16th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.15). RLX Technology had a net margin of 15.70% and a return on equity of 2.48%. The firm had revenue of $111.35 million during the quarter, compared to analyst estimates of $763.38 million.

About RLX Technology

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.