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

RLX Technology Inc. (NYSE:RLX)’s stock price 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 trading hands.

RLX Technology Price Performance

The company’s 50-day moving average price is $1.69 and its two-hundred day moving average price is $1.81. The company has a market capitalization of $2.79 billion, a P/E ratio of 37.60 and a beta of 0.92.

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

Hedge Funds Weigh In On RLX Technology

Large investors have recently made changes to their positions in the company. Profund Advisors LLC acquired a new position in shares of RLX Technology in the second quarter valued at about $72,000. Bank of New York Mellon Corp boosted 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 valued at $73,000 after purchasing an additional 10,596 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in shares of RLX Technology during the 2nd quarter worth approximately $146,000. Point72 Europe London LLP bought a new position in shares of RLX Technology during the fourth quarter worth approximately $616,000. Finally, SG Americas Securities LLC raised its position in shares of 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 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.