RLX Technology (NYSE:RLX) Shares Gap Down – Time to Sell?

RLX Technology Inc. (NYSE:RLX)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $1.91, but opened at $1.86. RLX Technology shares last traded at $1.93, with a volume of 148,461 shares traded.

RLX Technology Stock Up 4.7 %

The business has a 50-day moving average of $1.74 and a 200-day moving average of $1.75. The stock has a market cap of $3.14 billion, a price-to-earnings ratio of 47.75 and a beta of 1.02.

RLX Technology Dividend Announcement

The company also recently declared an annual dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a $0.01 dividend. The ex-dividend date is Friday, December 6th. This represents a dividend yield of 0.59%. RLX Technology’s payout ratio is 25.00%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Centiva Capital LP bought a new stake in RLX Technology in the third quarter worth $29,000. Blue Trust Inc. increased its holdings in shares of RLX Technology by 284.8% during the 3rd quarter. Blue Trust Inc. now owns 35,428 shares of the company’s stock valued at $65,000 after acquiring an additional 26,220 shares during the last quarter. Profund Advisors LLC bought a new position in shares of RLX Technology in the 2nd quarter valued at approximately $72,000. Bank of New York Mellon Corp lifted its holdings in RLX Technology by 36.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 39,615 shares of the company’s stock worth $73,000 after purchasing an additional 10,596 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in RLX Technology during the third quarter worth approximately $108,000. 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.