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

RLX Technology Inc. (NYSE:RLX) shares 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 trading hands.

RLX Technology Stock Down 4.1 %

The business has a fifty day moving average of $1.69 and a 200 day moving average of $1.77. The company has a market cap of $2.74 billion, a P/E ratio of 45.64 and a beta of 0.93.

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

RLX Technology Dividend Announcement

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Centiva Capital LP purchased a new position in shares of RLX Technology in the 3rd quarter valued at approximately $29,000. Blue Trust Inc. raised its holdings in RLX Technology by 284.8% in the third quarter. Blue Trust Inc. now owns 35,428 shares of the company’s stock worth $65,000 after purchasing an additional 26,220 shares in the last quarter. Profund Advisors LLC bought a new position in RLX Technology in the second quarter worth $72,000. Bank of New York Mellon Corp lifted its position in RLX Technology by 36.5% during the second quarter. Bank of New York Mellon Corp now owns 39,615 shares of the company’s stock valued at $73,000 after buying an additional 10,596 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of RLX Technology during the 3rd quarter valued at $108,000. Hedge funds and other 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.