E Fund Management Co. Ltd. Makes New $705,000 Investment in RLX Technology Inc. (NYSE:RLX)

E Fund Management Co. Ltd. bought a new stake in RLX Technology Inc. (NYSE:RLX) during the fourth quarter, Holdings Channel.com reports. The firm bought 352,589 shares of the company’s stock, valued at approximately $705,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Nomura Holdings Inc. increased its stake in shares of RLX Technology by 118.9% in the third quarter. Nomura Holdings Inc. now owns 15,974,504 shares of the company’s stock valued at $24,122,000 after purchasing an additional 8,677,765 shares during the period. Canada Pension Plan Investment Board boosted its position in RLX Technology by 77.9% during the 3rd quarter. Canada Pension Plan Investment Board now owns 2,586,097 shares of the company’s stock worth $3,905,000 after acquiring an additional 1,132,697 shares during the period. Vanguard Group Inc. increased its holdings in shares of RLX Technology by 1.9% during the third quarter. Vanguard Group Inc. now owns 31,061,726 shares of the company’s stock valued at $46,903,000 after purchasing an additional 578,728 shares during the period. SCEP Management Ltd increased its holdings in shares of RLX Technology by 25.0% during the third quarter. SCEP Management Ltd now owns 2,500,000 shares of the company’s stock valued at $3,775,000 after purchasing an additional 500,000 shares during the period. Finally, E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of RLX Technology during the fourth quarter valued at about $705,000. Institutional investors and hedge funds own 22.68% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on RLX shares. TheStreet raised shares of RLX Technology from a “d” rating to a “c-” rating in a research note on Monday, March 18th. Citigroup upped their target price on RLX Technology from $2.40 to $2.76 and gave the stock a “buy” rating in a research report on Monday, March 18th.

RLX Technology Stock Performance

NYSE RLX remained flat at $2.00 on Wednesday. 2,218,399 shares of the company’s stock were exchanged, compared to its average volume of 5,585,678. RLX Technology Inc. has a 52 week low of $1.39 and a 52 week high of $2.47. The business has a fifty day moving average price of $1.90 and a 200 day moving average price of $1.92. The company has a market capitalization of $3.14 billion, a PE ratio of 40.01 and a beta of 0.93.

RLX Technology (NYSE:RLX) last released its earnings results on Friday, March 15th. The company reported $0.02 EPS for the quarter. The business had revenue of $73.31 million during the quarter. RLX Technology had a net margin of 34.74% and a return on equity of 3.32%.

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.