RLX Technology Inc. (NYSE:RLX – Get Free Report)’s share price gapped down before the market opened on Friday following a weaker than expected earnings announcement. The stock had previously closed at $2.35, but opened at $2.29. RLX Technology shares last traded at $2.26, with a volume of 2,749,902 shares.
The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.19). The company had revenue of $111.46 million during the quarter, compared to the consensus estimate of $764.69 million. RLX Technology had a net margin of 15.70% and a return on equity of 2.48%.
Hedge Funds Weigh In On RLX Technology
Institutional investors and hedge funds have recently modified their holdings of the business. Point72 Asset Management L.P. boosted its holdings in shares of RLX Technology by 8,292.2% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,313,300 shares of the company’s stock worth $2,377,000 after buying an additional 1,297,651 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of RLX Technology by 14.5% in the 3rd quarter. Franklin Resources Inc. now owns 293,830 shares of the company’s stock worth $497,000 after purchasing an additional 37,294 shares in the last quarter. Hosking Partners LLP lifted its holdings in shares of RLX Technology by 24.8% in the 4th quarter. Hosking Partners LLP now owns 981,533 shares of the company’s stock worth $2,120,000 after purchasing an additional 194,770 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of RLX Technology in the 3rd quarter worth $108,000. Finally, Point72 Hong Kong Ltd bought a new position in shares of RLX Technology in the 3rd quarter worth $2,386,000. 22.68% of the stock is currently owned by institutional investors.
RLX Technology Stock Performance
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.
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