Saturday, June 25, 2022

Investing in RLX Technology Inc. (RLX) Is Getting More Attractive

BofA Securities initiated its RLX Technology Inc. [RLX] rating to a Neutral in a research note published on Tuesday, November 01, 2021; the price target was $6. PT values the company’s stock at a premium of 61.83 to its Tuesday closing price. A number of analysts have revised their coverage, including Citigroup’s analysts, who began to cover the stock in mid March with a ‘”a Buy”‘ rating. China Renaissance began covering RLX with a “Buy” recommendation on February 22, 2021.

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Price Performance Review of RLX

On Tuesday, RLX Technology Inc. [NYSE:RLX] saw its stock fall -1.29% to $2.29. On the same session, the stock had its day’s lowest price of $2.29, but rose to a high of $2.37. Over the last five days, the stock has gained 2.69%. RLX Technology Inc. shares have fallen nearly -41.28% since the year began. Nevertheless, the stocks have fallen -73.09% over the past one year. While a 52-week high of $9.44 was reached on 01/03/22, a 52-week low of $1.16 was recorded on 03/14/22. SMA at 50 days reached $1.99, while 200 days put it at $3.43. A total of 6.34 million shares were traded, compared to the trading of 9.44 million shares in the previous session.

Levels Of Support And Resistance For RLX Stock

The 24-hour chart illustrates a support level at 2.26, which if violated will result in even more drops to 2.24. On the upside, there is a resistance level at 2.34. A further resistance level may holdings at 2.40. The Relative Strength Index (RSI) on the 14-day chart is 57.38, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.17, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 32.84%. Stochastics %K at 70.15% indicates the stock is a holding.

How much short interest is there in RLX Technology Inc.?

A steep rise in short interest was recorded in RLX Technology Inc. stocks on Apr 28, 2022, dropping by -3.5 million shares to a total of 34.18 million shares. Yahoo Finance data shows the prior-month short interest on Mar 30, 2022 was 37.68 million shares. There was a decline of -10.24%, which implies that there is a negative sentiment for the stock.

RLX Technology Inc. [RLX] – Who Are The Largest Shareholders?

In filings from Wildcat Capital Management LLC, it is revealed that the company now owns 30,893,022 shares, or roughly 4.42% of the outstanding RLX shares. In other words, the investor’s shares have risen by 7,048,832 from its previous 13-F filing of 23844190.0. Additionally, The Vanguard Group, Inc. decreased -0.21% of its stake after which the total value it holdings stand at $42,237,918, while BlackRock Fund Advisors reduced -1.46% of its stake to hold $32.15 million in the firm. Over the last quarter, SSgA Funds Management, Inc. sold -941,719 shares of RLX Technology Inc., while Yong Rong sold 6,630,000 shares. At present, BlackRock Advisors is holding 6,531,463 shares valued at $12.93 million. Millennium Management LLC owned 5,036,419 shares of the company at the time of its most recent 13F filing, worth $9.97 million.

According to FactSet, RLX Technology Inc.’s share price will average $48.98 in the next year, based on opinions of analysts polled by the firm. This is up nearly 1209.05 percent from its previous closing price of $2.32. Analysts expect RLX Technology Inc. stock to reach the higher price of $100.12, while the lowest price estimate is $16.46. However, 3 analysts have rated RLX stock as a Buy in their predictions for 2022.

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