RLX Technology (NYSE:RLX) Shares Down 8.8% – Here’s What Happened

RLX Technology Inc. (NYSE:RLX)’s stock price was down 8.8% on Monday . The company traded as low as $2.22 and last traded at $2.22. Approximately 3,536,386 shares changed hands during trading, a decline of 29% from the average daily volume of 4,998,021 shares. The stock had previously closed at $2.43.

RLX Technology Stock Down 5.6 %

The stock has a market cap of $3.60 billion, a price-to-earnings ratio of 57.39 and a beta of 0.97. The company’s 50-day simple moving average is $2.20 and its 200-day simple moving average is $1.89.

Hedge Funds Weigh In On RLX Technology

Hedge funds have recently modified their holdings of the stock. Mariner LLC boosted its position in shares of RLX Technology by 0.3% in the 4th quarter. Mariner LLC now owns 1,671,840 shares of the company’s stock valued at $3,611,000 after purchasing an additional 4,987 shares during the period. Barclays PLC boosted its holdings in shares of RLX Technology by 5.0% in the third quarter. Barclays PLC now owns 110,471 shares of the company’s stock worth $200,000 after buying an additional 5,267 shares during the period. Bank of America Corp DE increased its position in shares of RLX Technology by 6.0% in the fourth quarter. Bank of America Corp DE now owns 166,949 shares of the company’s stock worth $361,000 after acquiring an additional 9,512 shares in the last quarter. Marshall Wace LLP raised its holdings in shares of RLX Technology by 3.9% during the fourth quarter. Marshall Wace LLP now owns 267,606 shares of the company’s stock valued at $578,000 after acquiring an additional 10,071 shares during the period. Finally, Janney Montgomery Scott LLC purchased a new stake in shares of RLX Technology in the 4th quarter valued at approximately $31,000. 22.68% of the stock is currently owned by institutional investors and hedge funds.

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.