RLX Technology (NYSE:RLX) Trading Up 4.8% – What’s Next?

RLX Technology Inc. (NYSE:RLX)’s stock price was up 4.8% during mid-day trading on Wednesday . The company traded as high as $2.06 and last traded at $2.06. Approximately 1,856,853 shares were traded during mid-day trading, a decline of 60% from the average daily volume of 4,672,406 shares. The stock had previously closed at $1.96.

RLX Technology Price Performance

The company has a 50 day moving average price of $1.76 and a 200 day moving average price of $1.76. The firm has a market cap of $3.08 billion, a PE ratio of 49.01 and a beta of 1.03.

RLX Technology Announces Dividend

The business also recently announced an annual dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a dividend yield of 0.59%. RLX Technology’s payout ratio is currently 25.00%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. First Beijing Investment Ltd grew its holdings in RLX Technology by 33.6% in the third quarter. First Beijing Investment Ltd now owns 28,440,248 shares of the company’s stock valued at $51,477,000 after purchasing an additional 7,159,064 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of RLX Technology in the third quarter valued at about $2,386,000. Point72 Asset Management L.P. raised its position in shares of RLX Technology by 8,292.2% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,313,300 shares of the company’s stock worth $2,377,000 after purchasing an additional 1,297,651 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of RLX Technology by 58.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 612,067 shares of the company’s stock worth $1,108,000 after purchasing an additional 225,200 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in RLX Technology by 14.5% in the 3rd quarter. Franklin Resources Inc. now owns 293,830 shares of the company’s stock valued at $497,000 after buying an additional 37,294 shares in the last quarter. 22.68% of the stock is owned by hedge funds and other institutional investors.

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.