Virtu Financial LLC Buys 44,354 Shares of RLX Technology Inc. (NYSE:RLX)

Virtu Financial LLC lifted its stake in shares of RLX Technology Inc. (NYSE:RLX) by 52.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 129,401 shares of the company’s stock after purchasing an additional 44,354 shares during the quarter. Virtu Financial LLC’s holdings in RLX Technology were worth $280,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. bought a new position in RLX Technology in the third quarter worth approximately $108,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of RLX Technology by 58.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 612,067 shares of the company’s stock worth $1,108,000 after purchasing an additional 225,200 shares during the period. Point72 Hong Kong Ltd acquired a new position in shares of RLX Technology during the third quarter worth approximately $2,386,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of RLX Technology in the 3rd quarter worth $139,000. Finally, Centiva Capital LP acquired a new stake in RLX Technology in the 3rd quarter valued at $29,000. 22.68% of the stock is currently owned by institutional investors and hedge funds.

RLX Technology Stock Performance

Shares of NYSE RLX opened at $1.97 on Friday. The stock has a market cap of $3.09 billion, a price-to-earnings ratio of 49.14 and a beta of 0.93. RLX Technology Inc. has a fifty-two week low of $1.50 and a fifty-two week high of $2.69. The firm’s 50-day simple moving average is $2.24 and its 200 day simple moving average is $1.98.

RLX Technology (NYSE:RLX) last posted 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 company had revenue of $111.46 million during the quarter, compared to the consensus estimate of $764.69 million.

Analysts Set New Price Targets

Separately, Citigroup downgraded shares of RLX Technology from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $2.80 to $2.50 in a report on Monday, March 17th.

RLX Technology Company Profile

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.