RLX Technology (NYSE:RLX) Shares Gap Down – What’s Next?

RLX Technology Inc. (NYSE:RLX) shares gapped down prior to trading on Wednesday . The stock had previously closed at $1.88, but opened at $1.80. RLX Technology shares last traded at $1.81, with a volume of 1,502,514 shares changing hands.

RLX Technology Trading Down 0.6 %

The company has a market cap of $2.73 billion, a price-to-earnings ratio of 43.51 and a beta of 0.92. The company’s 50 day moving average price is $1.69 and its 200 day moving average price is $1.81.

RLX Technology (NYSE:RLX) last announced its quarterly earnings data on Friday, August 16th. The company reported $0.01 EPS for the quarter. RLX Technology had a net margin of 18.25% and a return on equity of 2.48%. The firm had revenue of $86.30 million during the quarter.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp boosted its position in shares of RLX Technology by 36.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 39,615 shares of the company’s stock worth $73,000 after purchasing an additional 10,596 shares in the last quarter. Profund Advisors LLC acquired a new position in RLX Technology during the second quarter worth about $72,000. Susquehanna Fundamental Investments LLC purchased a new position in RLX Technology in the second quarter valued at about $146,000. Finally, SG Americas Securities LLC increased its holdings in RLX Technology by 7,420.4% in the second quarter. SG Americas Securities LLC now owns 4,729,553 shares of the company’s stock valued at $8,702,000 after buying an additional 4,666,663 shares in the last quarter. Institutional investors and hedge funds own 22.68% of the company’s stock.

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.