RLX Technology (NYSE:RLX) Shares Gap Up to $1.68

Shares of RLX Technology Inc. (NYSE:RLX) gapped up before the market opened on Monday . The stock had previously closed at $1.68, but opened at $1.86. RLX Technology shares last traded at $1.83, with a volume of 3,829,610 shares.

RLX Technology Price Performance

The business’s fifty day simple moving average is $1.69 and its 200 day simple moving average is $1.82. The stock has a market cap of $2.83 billion, a price-to-earnings ratio of 33.60 and a beta of 0.91.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC increased its position in shares of RLX Technology by 7,420.4% during the 2nd quarter. SG Americas Securities LLC now owns 4,729,553 shares of the company’s stock valued at $8,702,000 after purchasing an additional 4,666,663 shares during the period. Bank of New York Mellon Corp raised its position in RLX Technology by 36.5% in the second quarter. Bank of New York Mellon Corp now owns 39,615 shares of the company’s stock worth $73,000 after acquiring an additional 10,596 shares in the last quarter. Point72 Europe London LLP acquired a new stake in RLX Technology in the 4th quarter valued at about $616,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of RLX Technology in the 2nd quarter worth approximately $146,000. Finally, Profund Advisors LLC bought a new stake in shares of RLX Technology in the 2nd quarter worth approximately $72,000. Institutional investors and hedge funds own 22.68% of the company’s stock.

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.