RLX Technology (NYSE:RLX) Stock Price Up 5.7% – Should You Buy?

RLX Technology Inc. (NYSE:RLX)’s stock price rose 5.7% on Tuesday . The stock traded as high as $1.95 and last traded at $1.94. Approximately 6,282,516 shares traded hands during trading, an increase of 37% from the average daily volume of 4,595,819 shares. The stock had previously closed at $1.83.

RLX Technology Stock Performance

The stock’s 50 day simple moving average is $1.70 and its 200-day simple moving average is $1.76. The firm has a market cap of $3.06 billion, a price-to-earnings ratio of 48.76 and a beta of 0.93.

RLX Technology Dividend Announcement

The company also recently announced an annual dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a $0.01 dividend. The ex-dividend date is Friday, December 6th. This represents a yield of 0.59%. RLX Technology’s dividend payout ratio (DPR) is 25.01%.

Institutional Trading of RLX Technology

Large investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. boosted its position in RLX Technology by 14.5% in the third quarter. Franklin Resources Inc. now owns 293,830 shares of the company’s stock valued at $497,000 after buying an additional 37,294 shares during the last quarter. Virtu Financial LLC boosted its holdings in shares of RLX Technology by 142.9% in the 3rd quarter. Virtu Financial LLC now owns 85,047 shares of the company’s stock valued at $154,000 after acquiring an additional 50,033 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of RLX Technology during the third quarter worth $221,000. Y Intercept Hong Kong Ltd acquired a new position in RLX Technology during the third quarter valued at $118,000. Finally, XTX Topco Ltd purchased a new stake in RLX Technology in the third quarter valued at $184,000. Hedge funds and other 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.