Connor Clark & Lunn Investment Management Ltd. Raises Holdings in RLX Technology Inc. (NYSE:RLX)

Connor Clark & Lunn Investment Management Ltd. grew its position in shares of RLX Technology Inc. (NYSE:RLX) by 1,239.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 801,104 shares of the company’s stock after purchasing an additional 741,281 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.05% of RLX Technology worth $1,730,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Barclays PLC grew its holdings in shares of RLX Technology by 5.0% during the third quarter. Barclays PLC now owns 110,471 shares of the company’s stock worth $200,000 after purchasing an additional 5,267 shares during the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of RLX Technology during the fourth quarter worth about $31,000. Centiva Capital LP acquired a new stake in shares of RLX Technology during the third quarter worth about $29,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of RLX Technology during the fourth quarter worth about $42,000. Finally, SG Americas Securities LLC boosted its stake in shares of RLX Technology by 7.6% during the fourth quarter. SG Americas Securities LLC now owns 303,215 shares of the company’s stock worth $655,000 after buying an additional 21,476 shares during the period. Hedge funds and other institutional investors own 22.68% of the company’s stock.

RLX Technology Stock Performance

Shares of RLX opened at $2.09 on Wednesday. The company has a market capitalization of $3.28 billion, a price-to-earnings ratio of 52.14 and a beta of 0.93. RLX Technology Inc. has a fifty-two week low of $1.50 and a fifty-two week high of $2.69. The firm has a 50-day simple moving average of $2.27 and a 200-day simple moving average of $1.97.

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

Wall Street Analyst Weigh In

Separately, Citigroup downgraded shares of RLX Technology from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $2.80 to $2.50 in a research note on Monday.

About RLX Technology

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.