Quantbot Technologies LP Makes New Investment in RLX Technology Inc. (NYSE:RLX)

Quantbot Technologies LP bought a new stake in RLX Technology Inc. (NYSE:RLX) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 56,905 shares of the company’s stock, valued at approximately $123,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Point72 Hong Kong Ltd bought a new position in RLX Technology in the 3rd quarter valued at $2,386,000. Point72 Asset Management L.P. boosted its position in RLX Technology by 8,292.2% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,313,300 shares of the company’s stock valued at $2,377,000 after buying an additional 1,297,651 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of RLX Technology by 1,239.1% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 801,104 shares of the company’s stock valued at $1,730,000 after buying an additional 741,281 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of RLX Technology by 58.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 612,067 shares of the company’s stock worth $1,108,000 after acquiring an additional 225,200 shares during the last quarter. Finally, Hosking Partners LLP lifted its stake in shares of RLX Technology by 24.8% during the fourth quarter. Hosking Partners LLP now owns 981,533 shares of the company’s stock valued at $2,120,000 after acquiring an additional 194,770 shares during the period. 22.68% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

RLX Technology Price Performance

Shares of NYSE RLX opened at $1.92 on Monday. RLX Technology Inc. has a fifty-two week low of $1.50 and a fifty-two week high of $2.69. The firm has a market capitalization of $3.01 billion, a P/E ratio of 47.89 and a beta of 0.93. The company’s 50 day simple moving average is $2.23 and its 200 day simple moving average is $1.98.

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