Short Interest in RLX Technology Inc. (NYSE:RLX) Declines By 17.5%

RLX Technology Inc. (NYSE:RLX) was the target of a large decline in short interest in February. As of February 28th, there was short interest totalling 11,470,000 shares, a decline of 17.5% from the February 13th total of 13,900,000 shares. Currently, 1.3% of the company’s stock are short sold. Based on an average trading volume of 5,160,000 shares, the days-to-cover ratio is currently 2.2 days.

Analyst Ratings Changes

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

Institutional Investors Weigh In On RLX Technology

Large investors have recently made changes to their positions in the stock. Centiva Capital LP acquired a new position in RLX Technology during the third quarter valued at $29,000. Janney Montgomery Scott LLC purchased a new stake in shares of RLX Technology in the 4th quarter valued at approximately $31,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of RLX Technology during the 4th quarter worth approximately $42,000. Boothbay Fund Management LLC acquired a new stake in RLX Technology during the 4th quarter worth approximately $43,000. Finally, Catalina Capital Group LLC acquired a new stake in shares of RLX Technology in the 4th quarter valued at $63,000. 22.68% of the stock is owned by hedge funds and other institutional investors.

RLX Technology Stock Down 3.6 %

RLX stock traded down $0.08 during trading on Wednesday, reaching $2.02. The company’s stock had a trading volume of 18,787,544 shares, compared to its average volume of 4,611,621. RLX Technology has a 1 year low of $1.50 and a 1 year high of $2.69. The company has a market capitalization of $3.17 billion, a P/E ratio of 50.39 and a beta of 0.93. The company’s fifty day moving average is $2.27 and its 200-day moving average is $1.97.

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

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.