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

RLX Technology Inc. (NYSE:RLX) shares gapped up before the market opened on Friday . The stock had previously closed at $2.21, but opened at $2.31. RLX Technology shares last traded at $2.21, with a volume of 1,672,592 shares changing hands.

RLX Technology Stock Performance

The stock has a market capitalization of $3.47 billion, a price-to-earnings ratio of 55.26 and a beta of 1.03. The firm has a 50-day moving average of $1.85 and a 200-day moving average of $1.77.

RLX Technology Dividend Announcement

The company also recently disclosed an annual dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were issued a $0.01 dividend. This represents a dividend yield of 0.59%. The ex-dividend date of this dividend was Friday, December 6th. RLX Technology’s dividend payout ratio is presently 25.00%.

Institutional Investors Weigh In On RLX Technology

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