RLX Technology (NYSE:RLX) Sees Unusually-High Trading Volume

Shares of RLX Technology Inc. (NYSE:RLX) saw an uptick in trading volume on Wednesday . 2,895,197 shares changed hands during mid-day 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 business has a fifty day moving average price of $1.69 and a 200 day moving average price of $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 released its earnings results on Friday, August 16th. The company reported $0.01 EPS for the quarter. RLX Technology had a net margin of 18.25% and a return on equity of 2.48%. The firm had revenue of $86.30 million for the quarter.

Institutional Investors Weigh In On RLX Technology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC grew its holdings in 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 acquiring an additional 4,666,663 shares during the period. Bank of New York Mellon Corp boosted its position in shares of RLX Technology by 36.5% during 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 in the last quarter. Profund Advisors LLC acquired a new position in shares of RLX Technology in the 2nd quarter worth approximately $72,000. Point72 Europe London LLP bought a new stake in shares of RLX Technology in the 4th quarter worth approximately $616,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of RLX Technology in the 2nd quarter worth approximately $146,000. Institutional investors own 22.68% of the company’s stock.

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.