RLX Technology (NYSE:RLX) Shares Gap Up Following Dividend Announcement

RLX Technology Inc. (NYSE:RLX) gapped up before the market opened on Friday after the company announced a dividend. The stock had previously closed at $1.63, but opened at $1.75. RLX Technology shares last traded at $1.69, with a volume of 1,668,034 shares.

The newly announced dividend which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a dividend yield of 0.59%. RLX Technology’s dividend payout ratio is currently 25.00%.

RLX Technology Stock Up 3.7 %

The stock has a market cap of $2.65 billion, a price-to-earnings ratio of 42.25 and a beta of 0.93. The company has a 50 day simple moving average of $1.68 and a 200 day simple moving average of $1.77.

RLX Technology (NYSE:RLX) last released its quarterly earnings data on Friday, August 16th. The company reported $0.01 earnings per share for the quarter. The company had revenue of $86.30 million for the quarter. RLX Technology had a return on equity of 2.48% and a net margin of 18.25%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. SG Americas Securities LLC increased its position 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 worth $8,702,000 after buying an additional 4,666,663 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in RLX Technology during the 2nd quarter worth about $146,000. Blue Trust Inc. raised its position in shares of RLX Technology by 284.8% in the 3rd quarter. Blue Trust Inc. now owns 35,428 shares of the company’s stock worth $65,000 after acquiring an additional 26,220 shares in the last quarter. Profund Advisors LLC acquired a new position in shares of RLX Technology in the 2nd quarter valued at about $72,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of 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 valued at $73,000 after purchasing an additional 10,596 shares during the period. 22.68% of the stock is 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.