RLX Technology Inc. (NYSE:RLX) Sees Significant Increase in Short Interest

RLX Technology Inc. (NYSE:RLX) was the recipient of a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 14,070,000 shares, an increase of 22.7% from the February 28th total of 11,470,000 shares. Based on an average trading volume of 5,960,000 shares, the short-interest ratio is currently 2.4 days. Currently, 1.6% of the company’s shares are sold short.

Analysts Set New Price Targets

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

RLX Technology Price Performance

RLX traded down $0.02 during trading on Wednesday, reaching $1.87. The company had a trading volume of 1,688,048 shares, compared to its average volume of 4,577,317. The company has a market cap of $2.94 billion, a P/E ratio of 46.76 and a beta of 0.93. RLX Technology has a 12 month low of $1.50 and a 12 month high of $2.69. The business’s fifty day moving average price is $2.21 and its 200 day moving average price is $1.98.

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 return on equity of 2.48% and a net margin of 15.70%. The company had revenue of $111.46 million during the quarter, compared to analyst estimates of $764.69 million.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Mariner LLC raised its holdings in shares of RLX Technology by 0.3% in the fourth 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 last quarter. Barclays PLC lifted its position in RLX Technology by 5.0% during the 3rd quarter. Barclays PLC now owns 110,471 shares of the company’s stock worth $200,000 after buying an additional 5,267 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of 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 in the last quarter. Marshall Wace LLP increased its position in shares of RLX Technology by 3.9% in the fourth 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 during the fourth quarter worth about $31,000. 22.68% of the stock is currently owned by institutional investors.

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.