RLX Technology (NYSE:RLX) Shares Gap Up – Time to Buy?

RLX Technology Inc. (NYSE:RLX)’s share price gapped up prior to trading on Friday . The stock had previously closed at $2.21, but opened at $2.31. RLX Technology shares last traded at $2.21, with a volume of 1,672,592 shares traded.

RLX Technology Stock Performance

The stock has a 50-day moving average of $1.86 and a two-hundred day moving average of $1.78. The company has a market cap of $3.46 billion, a P/E ratio of 55.01 and a beta of 1.03.

RLX Technology Dividend Announcement

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

Hedge Funds Weigh In On RLX Technology

Hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp increased its stake in RLX Technology by 36.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 39,615 shares of the company’s stock valued at $73,000 after purchasing an additional 10,596 shares in the last quarter. Profund Advisors LLC bought a new stake in shares of RLX Technology during the second quarter valued at approximately $72,000. Susquehanna Fundamental Investments LLC purchased a new position in RLX Technology in the 2nd quarter worth approximately $146,000. Blue Trust Inc. raised its holdings in RLX Technology by 284.8% in the 3rd quarter. Blue Trust Inc. now owns 35,428 shares of the company’s stock worth $65,000 after acquiring an additional 26,220 shares during the last quarter. Finally, First Beijing Investment Ltd lifted its position in RLX Technology by 33.6% in 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 in the last quarter. Institutional investors own 22.68% of the company’s stock.

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.