RLX Technology (NYSE:RLX) Shares Gap Up – Still a Buy?

RLX Technology Inc. (NYSE:RLX)’s share price gapped up before the market opened on Friday . The stock had previously closed at $1.63, but opened at $1.75. RLX Technology shares last traded at $1.69, with a volume of 1,668,034 shares traded.

RLX Technology Stock Up 4.0 %

The business has a 50-day simple moving average of $1.68 and a 200-day simple moving average of $1.77. The stock has a market cap of $2.66 billion, a P/E ratio of 40.76 and a beta of 0.93.

RLX Technology (NYSE:RLX) last posted its quarterly earnings data on Friday, August 16th. The company reported $0.01 earnings per share (EPS) for the quarter. The business had revenue of $86.30 million during the quarter. RLX Technology had a net margin of 18.25% and a return on equity of 2.48%.

Institutional Trading of RLX Technology

Several hedge funds have recently added to or reduced their stakes in RLX. Centiva Capital LP bought a new stake in RLX Technology in the 3rd quarter valued at $29,000. Blue Trust Inc. lifted its stake in shares of RLX Technology by 284.8% in the third quarter. Blue Trust Inc. now owns 35,428 shares of the company’s stock valued at $65,000 after buying an additional 26,220 shares during the period. Profund Advisors LLC acquired a new stake in RLX Technology during the second quarter worth about $72,000. Bank of New York Mellon Corp grew its position in RLX Technology by 36.5% during the second quarter. Bank of New York Mellon Corp now owns 39,615 shares of the company’s stock worth $73,000 after buying an additional 10,596 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in RLX Technology during the third quarter valued at about $108,000. Institutional investors own 22.68% of the company’s stock.

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.