Citigroup Issues Pessimistic Forecast for RLX Technology (NYSE:RLX) Stock Price

RLX Technology (NYSE:RLX - Get Free Report) had its price target cut by analysts at Citigroup from $2.60 to $2.50 in a research note issued on Monday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. Citigroup's target price points to a potential upside of 7.99% from the stock's previous close.Get RLX Technology alerts:A number of other brokerages have also issued reports on RLX. Wall Street Zen lowered shares of RLX Technology from a "hold" rating to a "sell" rating in a research note on Sunday. Weiss Ratings reiterated a "hold (c)" rating on shares of RLX Technology in a report on Thursday, January 22nd. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $2.50.View Our Latest Analysis on RLXRLX Technology Stock Up 2.9%Shares of RLX traded up $0.07 during trading hours on Monday, reaching $2.32. The company's stock had a trading volume of 4,573,937 shares, compared to its average volume of 2,458,480. The company has a 50 day moving average of $2.33 and a two-hundred day moving average of $2.40. The firm has a market cap of $3.64 billion, a price-to-earnings ratio of 25.73 and a beta of 1.11. RLX Technology has a 1-year low of $1.66 and a 1-year high of $2.84. RLX Technology (NYSE:RLX - Get Free Report) last posted its quarterly earnings results on Friday, March 13th. The company reported $0.03 EPS for the quarter, hitting the consensus estimate of $0.03. The business had revenue of $163.13 million during the quarter, compared to analysts' expectations of $152.06 million. RLX Technology had a net margin of 23.27% and a return on equity of 5.73%. RLX Technology declared that its board has approved a share repurchase program on Wednesday, December 31st that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its stock is undervalued. Institutional Trading of RLX TechnologyA number of institutional investors have recently added to or reduced their stakes in the business. Mackenzie Financial Corp increased its stake in shares of RLX Technology by 40.4% during the 4th quarter. Mackenzie Financial Corp now owns 4,218,617 shares of the company's stock worth $9,642,000 after purchasing an additional 1,214,766 shares during the last quarter. Empowered Funds LLC acquired a new stake in shares of RLX Technology in the 4th quarter valued at $167,000. XTX Topco Ltd lifted its stake in shares of RLX Technology by 152.6% in the 4th quarter. XTX Topco Ltd now owns 390,880 shares of the company's stock valued at $911,000 after purchasing an additional 236,153 shares during the last quarter. Millennium Management LLC boosted its holdings in RLX Technology by 15.6% in the fourth quarter. Millennium Management LLC now owns 207,609 shares of the company's stock worth $484,000 after purchasing an additional 28,052 shares in the last quarter. Finally, Capitolis Liquid Global Markets LLC bought a new stake in RLX Technology in the fourth quarter worth $3,519,000. 22.68% of the stock is currently owned by institutional investors and hedge funds. RLX Technology Company Profile (Get Free Report)RLX Technology Inc NYSE: RLX is a China-based company specializing in electronic nicotine delivery systems. The company develops, manufactures and markets closed-pod vaping devices and prefilled cartridges, positioning its products as an alternative to traditional combustible tobacco. RLX emphasizes consistent nicotine delivery, flavor variety and convenience through its proprietary e-liquid formulations and device design. RLX operates a vertically integrated business model that encompasses research and development, production, quality control and sales.Further ReadingFive stocks we like better than RLX TechnologyFed’s Shocking Move—Your Cash Isn’t Yours AnymoreA personal warning from Martin Weiss (Please read)Only 500 people today…Elon Musk: This Could Turn $100 into $100,000I tried out Elon Musk’s new AI tech — it floored meThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in RLX Technology Right Now?Before you consider RLX Technology, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and RLX Technology wasn't on the list.While RLX Technology currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here