RLX Technology (NYSE:RLX) Sees Strong Trading Volume – Here’s Why

RLX Technology Inc. (NYSE:RLX) saw unusually-strong trading volume on Tuesday . Approximately 3,202,876 shares were traded during mid-day trading, a decline of 28% from the previous session’s volume of 4,425,857 shares.The stock last traded at $1.82 and had previously closed at $1.87.

RLX Technology Price Performance

The firm has a market cap of $2.94 billion, a PE ratio of 37.70 and a beta of 0.92. The company has a 50 day simple moving average of $1.69 and a 200-day simple moving average of $1.81.

RLX Technology (NYSE:RLX) last issued its earnings results 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 company had revenue of $86.30 million for the quarter.

Hedge Funds Weigh In On RLX Technology

Several institutional investors and hedge funds have recently bought and sold shares of RLX. Profund Advisors LLC purchased a new stake in shares of RLX Technology during the second quarter valued at approximately $72,000. Bank of New York Mellon Corp grew its holdings in RLX Technology by 36.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 39,615 shares of the company’s stock worth $73,000 after acquiring an additional 10,596 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of RLX Technology in the second quarter valued at about $146,000. Point72 Europe London LLP bought a new position in RLX Technology during the 4th quarter valued at approximately $616,000. Finally, SG Americas Securities LLC boosted 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 acquiring an additional 4,666,663 shares in the last quarter. 22.68% of the stock is currently owned by institutional investors.

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.