RLX Technology Inc. (NYSE:RLX) Sees Large Decline in Short Interest

RLX Technology Inc. (NYSE:RLX) saw a large drop in short interest during the month of February. As of February 28th, there was short interest totalling 11,470,000 shares, a drop of 17.5% from the February 13th total of 13,900,000 shares. Based on an average daily volume of 5,160,000 shares, the short-interest ratio is presently 2.2 days. Currently, 1.3% of the shares of the company are sold short.

RLX Technology Price Performance

RLX stock traded up $0.13 during trading on Tuesday, reaching $2.09. The company had a trading volume of 13,160,358 shares, compared to its average volume of 4,626,299. RLX Technology has a 52 week low of $1.50 and a 52 week high of $2.69. The company has a market cap of $3.28 billion, a P/E ratio of 52.14 and a beta of 0.93. The business has a 50 day moving average of $2.27 and a 200 day moving average of $1.96.

RLX Technology (NYSE:RLX) last announced its earnings results on Friday, March 14th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.19). RLX Technology had a net margin of 15.70% and a return on equity of 2.48%. The business had revenue of $111.46 million for the quarter, compared to the consensus estimate of $764.69 million.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Mariner LLC raised its position in shares of RLX Technology by 0.3% during the 4th quarter. Mariner LLC now owns 1,671,840 shares of the company’s stock valued at $3,611,000 after purchasing an additional 4,987 shares during the period. Barclays PLC increased its holdings in RLX Technology by 5.0% in the 3rd quarter. Barclays PLC now owns 110,471 shares of the company’s stock valued at $200,000 after acquiring an additional 5,267 shares during the last quarter. Bank of America Corp DE increased its holdings in RLX Technology by 6.0% in the 4th quarter. Bank of America Corp DE now owns 166,949 shares of the company’s stock valued at $361,000 after acquiring an additional 9,512 shares during the last quarter. Marshall Wace LLP increased its holdings in RLX Technology by 3.9% in the 4th quarter. Marshall Wace LLP now owns 267,606 shares of the company’s stock valued at $578,000 after acquiring an additional 10,071 shares during the last quarter. Finally, Janney Montgomery Scott LLC bought a new stake in RLX Technology in the 4th quarter valued at $31,000. Hedge funds and other institutional investors own 22.68% of the company’s stock.

Analyst Ratings Changes

Separately, Citigroup cut shares of RLX Technology from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $2.80 to $2.50 in a report on Monday.

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.