RLX Technology Inc. (NYSE:RLX) Shares Purchased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of RLX Technology Inc. (NYSE:RLX) by 1,239.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 801,104 shares of the company’s stock after acquiring an additional 741,281 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in RLX Technology were worth $1,730,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Point72 Asset Management L.P. lifted 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 valued at $2,377,000 after acquiring an additional 1,297,651 shares during the period. Franklin Resources Inc. lifted its position in shares of RLX Technology by 14.5% during the 3rd quarter. Franklin Resources Inc. now owns 293,830 shares of the company’s stock valued at $497,000 after acquiring an additional 37,294 shares during the period. Hosking Partners LLP lifted its position in shares of RLX Technology by 24.8% during the 4th quarter. Hosking Partners LLP now owns 981,533 shares of the company’s stock valued at $2,120,000 after acquiring an additional 194,770 shares during the period. SG Americas Securities LLC lifted its position in shares of RLX Technology by 7.6% during the 4th quarter. SG Americas Securities LLC now owns 303,215 shares of the company’s stock valued at $655,000 after acquiring an additional 21,476 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of RLX Technology during the 3rd quarter valued at approximately $2,386,000. 22.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Citigroup downgraded 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 research report on Monday.

RLX Technology Stock Performance

RLX stock opened at $2.09 on Wednesday. The stock has a market capitalization of $3.28 billion, a P/E ratio of 52.14 and a beta of 0.93. RLX Technology Inc. has a one year low of $1.50 and a one year high of $2.69. The company has a 50 day moving average price of $2.27 and a two-hundred day moving average price of $1.97.

RLX Technology (NYSE:RLX) last announced its quarterly earnings results 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 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%.

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.