Morgan Stanley & Co. LLC recently announced the acquisition of new stake in RLX Technology Inc ADR (NYSE:RLX). The institutional investor has increased its shareholding in the Consumer Defensive company by 8.09% to 31.66 million shares with purchase of 2.37 million shares. This fresh investment now brings its stake to 3.15% valued currently at $53.82 million. In addition, The Vanguard Group, Inc. raised its holdings by 0.37 million to 24.61 million shares. And Nomura Securities Co., Ltd. has lifted its position by 118.93% or 8.68 million shares – to 15.97 million shares.
With over 6.96 million RLX Technology Inc ADR (RLX) shares trading Friday and a closing price of $2.01 on the day, the dollar volume was approximately $13.98 million. The shares have shown a positive half year performance of 18.24% and its price on 12/08/23 lost nearly -2.43%. Currently, there are 1.00B common shares owned by the public and among those 921.16M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for RLX have a consensus price objective of $18.97. The analysts have set the share’s price value over the next 12 months at a high of $18.97 and a low of $18.97. The average price target is 25.0% above its recent price level and an upside to the estimated low will see the stock gain 89.4% over that period. But an upside of 89.4% will see the stock hit the forecast high price target while median target price for the stock is $18.97.
The top 3 mutual fund holders in RLX Technology Inc ADR are Vanguard Emerging Markets Stock I, Vanguard Total International Stoc, and Fidelity China Special Situations. Vanguard Emerging Markets Stock I owns 11.28 million shares of the company’s stock, all valued at over $19.17 million. The company sold 31455.0 shares recently to bring their total holdings to about 1.12% of the shares outstanding. Fidelity China Special Situations now owns shares totaling to 0.56% of the shares outstanding.
Shares of RLX Technology Inc ADR (NYSE: RLX) opened at $2.05, down -$0.01 from a prior closing price of $2.06. However, the script later moved the day high at 2.0900, down -2.43%. The company’s stock has a 5-day price change of -8.64% and 34.00% over the past three months. RLX shares are trading -12.61% year to date (YTD), with the 12-month market performance down to -20.87% lower. It has a 12-month low price of $1.39 and touched a high of $3.00 over the same period. RLX has an average intraday trading volume of 6.47 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 -3.50%, 11.95%, and 3.34% respectively.
Institutional ownership of RLX Technology Inc ADR (NYSE: RLX) shares accounts for 26.41% of the company’s 1.00B shares outstanding. Mutual fund holders own 20.62%, while other institutional holders and individual stakeholders account for 5.73% and — respectively.
It has a market capitalization of $2.02B and a beta (3y monthly) value of 0.98. The stock’s trailing 12-month PE ratio is 248.15, while the earnings-per-share (ttm) stands at $0.01. The company has a PEG of 19.52 and a Quick Ratio of 14.73 with the debt-to-equity ratio at 0.00. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.78% over the week and 6.02% over the month.
Analysts forecast that RLX Technology Inc ADR (RLX) will achieve an EPS of $0.02 for the current quarter, $0.01 for the next quarter and $0.06 for 2024. The lowest estimate earnings-per-share for the quarter is $0.02 while analysts give the company a high EPS estimate of $0.02. Earnings per share for the fiscal year are expected to decrease by -70.90%, and 86.21% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 1 brokerage firm advisors rate RLX Technology Inc ADR (RLX) as a “Strong Buy” at a consensus score of 1.00. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 0 of the 1 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. UBS stated their Buy rating for the stock in a research note on August 08, 2023, with the firm’s price target at $2.60.
