RLX Technology Sees Significant Rise in Short Interest
RLX Technology Inc. (NYSE:RLX) experienced a substantial increase in short interest during February, according to a report released by MarketBeat.
As of February 15th, the total short interest in RLX Technology reached 13,900,000 shares. This represents a 26.6% increase compared to the 10,980,000 shares shorted on January 31st. Currently, 1.6% of RLX’s outstanding stock has been sold short. Based on the average daily trading volume of 5,500,000 shares, the short-interest ratio is 2.5 days.
RLX Technology Stock Performance
On Friday, RLX Technology stock saw a slight increase of $0.03 during trading, closing at $2.37. A total of 2,615,599 shares changed hands, contrasting with the average daily volume of 5,219,466 shares. The company’s 50-day moving average is $2.27, and its 200-day moving average is $1.94.
RLX Technology’s 52-week low is $1.50, with a 52-week high of $2.69. The company has a market capitalization of $3.71 billion, a price-to-earnings ratio of 59.14, and a beta of 0.93.
Institutional Trading Activity
Institutional investors demonstrated varied trading activity, with some increasing and others decreasing their positions in RLX Technology.
- Centiva Capital LP initiated a new position in the 3rd quarter, valued at $29,000.
- Janney Montgomery Scott LLC acquired a new position in the 4th quarter worth $31,000.
- Mirae Asset Global Investments Co. Ltd. also acquired a new position in the 4th quarter, valued at $42,000.
- Boothbay Fund Management LLC acquired a new position during the 4th quarter worth $43,000.
- Catalina Capital Group LLC acquired a new position in the 4th quarter worth $63,000.
Hedge funds and other institutional investors collectively hold 22.68% of RLX Technology’s stock.
Company Profile
RLX Technology Inc. and its subsidiaries are involved in the manufacture and sale of e-vapor products. Their operations span the People’s Republic of China and international markets, serving both partner distributors and retail outlets.
The company was founded in 2018 and has its headquarters in Beijing, China.
