RLX Technology (NYSE:RLX) Reaches New 52-Week High – Should You Buy?

RLX Technology Inc. (NYSE:RLX)’s stock price hit a new 52-week high on Friday . The stock traded as high as $2.69 and last traded at $2.60, with a volume of 6410263 shares trading hands. The stock had previously closed at $2.32.

RLX Technology Price Performance

The company has a market cap of $3.84 billion, a PE ratio of 60.89 and a beta of 0.97. The business’s 50 day moving average is $2.19 and its 200-day moving average is $1.88.

Hedge Funds Weigh In On RLX Technology

Large investors have recently bought and sold shares of the stock. Centiva Capital LP purchased a new position in shares of RLX Technology in the 3rd quarter valued at approximately $29,000. Janney Montgomery Scott LLC acquired a new stake in shares of RLX Technology during the fourth quarter worth $31,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in RLX Technology in the 4th quarter valued at $42,000. Boothbay Fund Management LLC acquired a new position in RLX Technology in the 4th quarter valued at $43,000. Finally, Catalina Capital Group LLC acquired a new stake in shares of RLX Technology in the 4th quarter worth $63,000. Institutional investors and hedge funds 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.