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    Technology

    RLX Technology Inc. (NYSE: RLX ) Short Interest Decreases 19.5% in December

    shivachetanbijjal@gmail.comBy shivachetanbijjal@gmail.comJanuary 21, 2023No Comments3 Mins Read
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    RLX Tech LogoRLX Technology Inc. (NYSE: RLX – Get Rating ) saw a sharp drop in short interest in December. As of December 30, short interest totaled 27.67 million shares, a decrease of 19.5% from 34.39 million shares on December 15. Currently, 4.6% of the company’s shares are short-sold. Based on an average daily volume of 15,990,000 shares, the current days-to-cover ratio is 1.7 days.

    Hedge Funds Participate in RLX Technology

    Institutional investors and hedge funds have recently changed their positions in stocks. Quadrant Capital Group LLC increased its stake in RLX Technology by 141.8% during the third quarter. Quadrant Capital Group LLC now owns 27,414 shares of the company worth $29,000 after purchasing an additional 16,078 shares during that period. US Bancorp DE acquired a new position in RLX Technology stock worth $64,000 during the second quarter. Signaturefd LLC increased its stake in RLX Technology by 175.6% during the third quarter. Signaturefd LLC now owns 47,282 shares of the company worth $50,000 after purchasing an additional 30,125 shares during that period. Collaborative Holdings Management LP acquired a new stake in RLX Technology in the second quarter, valued at approximately $107,000. Finally, Federated Hermes Inc. acquired a new stake in RLX Technology in the third quarter, valued at approximately $53,000. 16.88% of shares are held by institutional investors and hedge funds.

    RLX Technology Stock Performance

    RLX Technology stock opened Friday at $2.71. RLX Technology had a one-year low of $0.90 and a one-year high of $3.97. The company has a market capitalization of $4.21 billion, a price-to-earnings ratio of 11.29, and a beta of 0.42. The company’s 50-day moving average is $2.35 and its 200-day moving average is $1.75.

    RLX Technology (NYSE: RLX – Get Rating ) last reported its quarterly earnings results on Wednesday, November 16th. The company reported EPS of $0.05 for the quarter. RLX Technology has a net profit margin of 31.28% and a return on equity of 15.23%. The business reported revenue of $146.82 million for the quarter.

    About Lixin Technology

    (get rating)

    RLX Technology Inc and its subsidiaries research, develop, manufacture, distribute and sell electronic vapor products in the People’s Republic of China. It serves RELX brand partner stores and other retail outlets through distributors. RLX Technology Inc was established in 2018 and is headquartered in Beijing, China.

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    This breaking news alert is powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate coverage. This story was reviewed by MarketBeat’s editorial team before publication. Please send any questions or comments about this story to contact@marketbeat.com.

    You’ll want to hear this before you even consider RLX Technology.

    MarketBeat tracks Wall Street’s highest-rated and top-performing research analysts and the stocks they recommend to clients on a daily basis. MarketBeat has identified five stocks top analysts are quietly whispering to their clients to buy now before the broader market hits…and RLX Technology isn’t on the list.

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    5G Stocks: The Way Forward Is a Profitable Cover

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