RLX Technology (NYSE:RLX) Shares Gap Down – Here’s Why

RLX Technology Inc. (NYSE:RLX) gapped down before the market opened on Tuesday . The stock had previously closed at $1.82, but opened at $1.75. RLX Technology shares last traded at $1.76, with a volume of 574,168 shares changing hands.

RLX Technology Stock Performance

The company has a market cap of $2.74 billion, a P/E ratio of 45.64 and a beta of 0.93. The stock has a 50-day moving average of $1.69 and a two-hundred day moving average of $1.77.

RLX Technology (NYSE:RLX) last posted its quarterly earnings results on Friday, August 16th. The company reported $0.01 EPS for the quarter. RLX Technology had a net margin of 15.70% and a return on equity of 2.50%. The firm had revenue of $86.30 million for the quarter.

RLX Technology Dividend Announcement

The firm also recently declared an annual dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a $0.01 dividend. This represents a yield of 0.59%. The ex-dividend date of this dividend is Friday, December 6th. RLX Technology’s dividend payout ratio is presently 25.01%.

Institutional Trading of RLX Technology

Institutional investors have recently added to or reduced their stakes in the business. First Beijing Investment Ltd boosted its holdings in RLX Technology by 33.6% during the 3rd quarter. First Beijing Investment Ltd now owns 28,440,248 shares of the company’s stock valued at $51,477,000 after acquiring an additional 7,159,064 shares during the period. SG Americas Securities LLC lifted its position in RLX Technology by 7,420.4% in the second 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 last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of RLX Technology during the third quarter valued at approximately $2,386,000. Point72 Asset Management L.P. grew its holdings in shares of 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 worth $2,377,000 after purchasing an additional 1,297,651 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of RLX Technology by 58.2% in 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 buying an additional 225,200 shares during the period. 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.