RLX Technology (NYSE:RLX) Sees Large Volume Increase

Shares of RLX Technology Inc. (NYSE:RLX) saw strong trading volume on Wednesday . 2,895,197 shares traded hands during trading, a decline of 29% from the previous session’s volume of 4,081,987 shares.The stock last traded at $1.80 and had previously closed at $1.71.

RLX Technology Price Performance

The stock’s fifty day simple moving average is $1.69 and its two-hundred day simple moving average is $1.82. The company has a market capitalization of $2.82 billion, a price-to-earnings ratio of 35.91 and a beta of 0.91.

RLX Technology (NYSE:RLX) last issued its earnings results on Friday, August 16th. The company reported $0.01 earnings per share (EPS) for the quarter. The firm 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%.

Institutional Investors Weigh In On RLX Technology

Hedge funds have recently added to or reduced their stakes in the stock. Profund Advisors LLC acquired a new stake in shares of RLX Technology in the 2nd quarter worth about $72,000. Bank of New York Mellon Corp grew its position 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 worth $73,000 after purchasing an additional 10,596 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new position in RLX Technology in the 2nd quarter worth about $146,000. Point72 Europe London LLP acquired a new stake in shares of RLX Technology in the fourth quarter valued at approximately $616,000. Finally, SG Americas Securities LLC raised its holdings in shares of RLX Technology by 7,420.4% during 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 during the last quarter. 22.68% of the stock is currently owned by institutional investors.

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.