RLX Technology (NYSE:RLX) Shares Gap Down Following Weak Earnings

RLX Technology Inc. (NYSE:RLX) gapped down prior to trading on Friday following a weaker than expected earnings announcement. The stock had previously closed at $2.35, but opened at $2.29. RLX Technology shares last traded at $2.26, with a volume of 2,749,902 shares traded.

The company reported $0.01 EPS 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%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Mariner LLC grew its holdings in shares of RLX Technology by 0.3% in the 4th quarter. Mariner LLC now owns 1,671,840 shares of the company’s stock worth $3,611,000 after purchasing an additional 4,987 shares during the last quarter. Barclays PLC boosted its position in RLX Technology by 5.0% in the third quarter. Barclays PLC now owns 110,471 shares of the company’s stock valued at $200,000 after buying an additional 5,267 shares in the last quarter. Bank of America Corp DE grew its stake in RLX Technology by 6.0% during the fourth quarter. Bank of America Corp DE now owns 166,949 shares of the company’s stock worth $361,000 after buying an additional 9,512 shares during the last quarter. Marshall Wace LLP increased its holdings in shares of RLX Technology by 3.9% during the fourth quarter. Marshall Wace LLP now owns 267,606 shares of the company’s stock worth $578,000 after buying an additional 10,071 shares in the last quarter. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of RLX Technology during the fourth quarter worth approximately $31,000. 22.68% of the stock is currently owned by institutional investors and hedge funds.

RLX Technology Price Performance

The company has a market cap of $3.57 billion, a P/E ratio of 56.44 and a beta of 0.93. The business’s 50 day moving average price is $2.28 and its 200-day moving average price is $1.95.

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.