RLX Technology (NYSE:RLX) Trading Up 1.9% – What’s Next?

RLX Technology Inc. (NYSE:RLX)’s share price traded up 1.9% during trading on Friday . The company traded as high as $2.10 and last traded at $2.10. 1,299,428 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 4,674,160 shares. The stock had previously closed at $2.06.

RLX Technology Stock Performance

The firm has a market capitalization of $3.33 billion, a price-to-earnings ratio of 53.01 and a beta of 1.03. The company has a 50 day moving average price of $1.81 and a two-hundred day moving average price of $1.76.

RLX Technology Announces Dividend

The business also recently disclosed an annual dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were given a dividend of $0.01 per share. This represents a yield of 0.59%. The ex-dividend date of this dividend was Friday, December 6th. RLX Technology’s dividend payout ratio is presently 25.00%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of RLX. Centiva Capital LP purchased a new stake in RLX Technology in the third quarter valued at $29,000. Blue Trust Inc. lifted its holdings in RLX Technology by 284.8% during the 3rd quarter. Blue Trust Inc. now owns 35,428 shares of the company’s stock worth $65,000 after buying an additional 26,220 shares in the last quarter. Profund Advisors LLC acquired a new position in RLX Technology during the 2nd quarter worth $72,000. Bank of New York Mellon Corp increased its stake in shares of 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 worth $73,000 after buying an additional 10,596 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of RLX Technology in the 3rd quarter valued at $108,000. Institutional investors and hedge funds 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.