BlackRock Advisors recently announced the acquisition of new stake in RLX Technology Inc. (NYSE:RLX). The institutional investor has increased its shareholding in the Consumer Defensive company by 24.28% to 6.41 million shares with purchase of 1.25 million shares. This fresh investment now brings its stake to 0.92% valued currently at $8.01 million. In addition, Vanguard Fiduciary Trust Co. raised its holdings by 0.17 million to 4.57 million shares. And Vista Wealth Management Group LLC has lifted its position by 14.47% or 0.46 million shares – to 3.62 million shares.
With over 13.96 million RLX Technology Inc. (RLX) shares trading Monday and a closing price of $1.76 on the day, the dollar volume was approximately $24.57 million. Currently, there are 1.32B common shares owned by the public and among those 564.01M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 2 analysts who have offered their price forecasts for RLX have a consensus price objective of $33.28. The analysts have set the share’s price value over the next 12 months at a high of $48.15 and a low of $18.41. The average price target is 55.56% above its recent price level and an upside to the estimated low will see the stock gain 90.44% over that period. But an upside of 96.34% will see the stock hit the forecast high price target while median target price for the stock is $33.28.
The top 3 mutual fund holders in RLX Technology Inc. are Vanguard Emerging Markets Stock I, Vanguard Total International Stoc, and iShares Core MSCI Emerging Market. Vanguard Emerging Markets Stock I owns 9.93 million shares of the company’s stock, all valued at over $12.41 million. Vanguard Total International Stoc sold 43103.0 shares to see its total holdings shrink to 9.48 million shares valued at over $11.85 million and representing 1.36% of the shares outstanding. iShares Core MSCI Emerging Market now owns shares totaling to 0.63% of the shares outstanding.
Shares of RLX Technology Inc. (NYSE: RLX) opened at $1.72, down -$0.04 from a prior closing price of $1.76. The company’s stock has a 5-day price change of 11.39% and 23.08% over the past three months. RLX shares are trading -54.87% year to date (YTD), with the 12-month market performance down to -60.89% lower. It has a 12-month low price of $0.90 and touched a high of $5.90 over the same period. RLX has an average intraday trading volume of 9.47 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 19.81%, 40.83%, and -5.18% respectively.
Institutional ownership of RLX Technology Inc. (NYSE: RLX) shares accounts for 29.50% of the company’s 1.32B shares outstanding. Mutual fund holders own 15.22%, while other institutional holders and individual stakeholders account for 8.21% and — respectively.
It has a market capitalization of $2.68B. The stock’s trailing 12-month PE ratio is 7.82, while the earnings-per-share (ttm) stands at $0.23. The company has a PEG of 0.62 and a Quick Ratio of 10.70 with the debt-to-equity ratio at 0.01. Price movements for the stock have been influenced by the stock’s volatility, which stands at 13.51% over the week and 14.31% over the month.
Analysts forecast that RLX Technology Inc. (RLX) will achieve an EPS of $0 for the current quarter, $0 for the next quarter and $0.12 for 2023. The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0. Earnings per share for the fiscal year are expected to decrease by -40.90%, and -23.10% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 2 brokerage firm advisors rate RLX Technology Inc. (RLX) as a “Strong Buy” at a consensus score of 1.70. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 0 of the 2 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the RLX, a number of firms have released research notes about the stock. BofA Securities stated their Neutral rating for the stock in a research note on November 01, 2021, with the firm’s price target at $6. Citigroup coverage for the RLX Technology Inc. (RLX) stock in a research note released on March 12, 2021 offered a Buy rating with a price target of $20.