RLX Technology (NYSE:RLX) Reaches New 52-Week High – Here’s Why

RLX Technology Inc. (NYSE:RLX) reached a new 52-week high during trading on Friday . The stock traded as high as $2.69 and last traded at $2.60, with a volume of 6410263 shares traded. The stock had previously closed at $2.32.

RLX Technology Stock Performance

The stock has a fifty day moving average of $2.20 and a 200 day moving average of $1.89. The company has a market capitalization of $3.81 billion, a PE ratio of 60.64 and a beta of 0.97.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Janney Montgomery Scott LLC acquired a new position in shares of RLX Technology in the fourth quarter valued at about $31,000. Centiva Capital LP acquired a new stake in shares of RLX Technology in the third quarter valued at about $29,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in RLX Technology in the 4th quarter valued at $42,000. Boothbay Fund Management LLC acquired a new stake in RLX Technology during the fourth quarter worth about $43,000. Finally, Catalina Capital Group LLC acquired a new position in RLX Technology in the fourth quarter valued at approximately $63,000. 22.68% of the stock is currently owned by hedge funds and other 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.