RLX Technology (NYSE:RLX) Trading Up 4.8% – Still a Buy?

Shares of RLX Technology Inc. (NYSE:RLX) rose 4.8% during trading on Wednesday . The stock traded as high as $2.06 and last traded at $2.06. Approximately 1,856,853 shares traded hands during mid-day trading, a decline of 60% from the average daily volume of 4,672,406 shares. The stock had previously closed at $1.96.

RLX Technology Trading Down 2.0 %

The company’s fifty day moving average is $1.76 and its two-hundred day moving average is $1.76. The stock has a market cap of $3.08 billion, a price-to-earnings ratio of 49.01 and a beta of 1.03.

RLX Technology Dividend Announcement

The firm also recently announced an annual dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a dividend of $0.01 per share. The ex-dividend date is Friday, December 6th. This represents a yield of 0.59%. RLX Technology’s dividend payout ratio (DPR) is presently 25.00%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Point72 Asset Management L.P. raised its holdings in RLX Technology by 8,292.2% in the third quarter. Point72 Asset Management L.P. now owns 1,313,300 shares of the company’s stock valued at $2,377,000 after acquiring an additional 1,297,651 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in RLX Technology during the third quarter worth approximately $108,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of RLX Technology in the 2nd quarter valued at $146,000. Point72 Hong Kong Ltd acquired a new position in RLX Technology in the third quarter valued at $2,386,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of RLX Technology by 58.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 612,067 shares of the company’s stock worth $1,108,000 after purchasing an additional 225,200 shares in the last quarter. 22.68% of the stock is currently owned by hedge funds and other 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.