Charles Schwab Investment Management Inc. Sells 201,892 Shares of RLX Technology Inc. (NYSE:RLX)

Charles Schwab Investment Management Inc. cut its position in shares of RLX Technology Inc. (NYSE:RLX) by 20.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 784,414 shares of the company’s stock after selling 201,892 shares during the period. Charles Schwab Investment Management Inc.’s holdings in RLX Technology were worth $1,694,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Centiva Capital LP purchased a new stake in shares of RLX Technology during the 3rd quarter valued at about $29,000. Janney Montgomery Scott LLC purchased a new stake in RLX Technology during the fourth quarter valued at approximately $31,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of RLX Technology in the 4th quarter valued at approximately $42,000. Catalina Capital Group LLC bought a new stake in shares of RLX Technology in the 4th quarter valued at approximately $63,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of RLX Technology in the 3rd quarter worth approximately $108,000. Hedge funds and other institutional investors own 22.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Citigroup lowered RLX Technology from a “buy” rating to a “neutral” rating and decreased their price target for the company from $2.80 to $2.50 in a report on Monday, March 17th.

RLX Technology Trading Down 2.3 %

RLX stock opened at $1.92 on Friday. The stock has a market cap of $3.01 billion, a PE ratio of 47.89 and a beta of 0.93. RLX Technology Inc. has a 12 month low of $1.50 and a 12 month high of $2.69. The company has a 50-day moving average price of $2.23 and a 200 day moving average price of $1.98.

RLX Technology (NYSE:RLX) last announced its earnings results on Friday, March 14th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.19). RLX Technology had a net margin of 15.70% and a return on equity of 2.48%. The business had revenue of $111.46 million for the quarter, compared to analysts’ expectations of $764.69 million.

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.