RLX Technology Inc. (NYSE:RLX) Sees Large Decline in Short Interest

RLX Technology Inc. (NYSE:RLX) saw a large decline in short interest in the month of February. As of February 28th, there was short interest totalling 11,470,000 shares, a decline of 17.5% from the February 13th total of 13,900,000 shares. Based on an average daily trading volume, of 5,160,000 shares, the short-interest ratio is currently 2.2 days. Currently, 1.3% of the company’s shares are sold short.

Wall Street Analyst Weigh In

Separately, Citigroup lowered shares of RLX Technology from a “buy” rating to a “neutral” rating and reduced their price target for the company from $2.80 to $2.50 in a report on Monday.

RLX Technology Stock Performance

NYSE RLX traded up $0.13 during mid-day trading on Tuesday, reaching $2.09. 13,160,358 shares of the stock were exchanged, compared to its average volume of 4,626,299. The business’s 50 day moving average is $2.27 and its 200-day moving average is $1.96. RLX Technology has a 1 year low of $1.50 and a 1 year high of $2.69. The company has a market capitalization of $3.28 billion, a P/E ratio of 52.14 and a beta of 0.93.

RLX Technology (NYSE:RLX) last posted its quarterly earnings data on Friday, March 14th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.19). The company had revenue of $111.46 million for the quarter, compared to analyst estimates of $764.69 million. RLX Technology had a return on equity of 2.48% and a net margin of 15.70%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Centiva Capital LP acquired a new stake in RLX Technology during the third quarter worth approximately $29,000. Janney Montgomery Scott LLC purchased a new position in RLX Technology in the 4th quarter valued at $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 purchased a new position in RLX Technology in the 4th quarter valued at $43,000. Finally, Catalina Capital Group LLC purchased a new position in RLX Technology in the 4th quarter valued at $63,000. Hedge funds and other 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.