BofA Securities lifts RLX Technology Inc. [RLX] price estimate. Who else is bullish?


RLX Technology Inc. [NYSE: RLX] slipped around -0.15 points on Monday, while shares priced at $1.71 at the close of the session, down -8.06%. The company report on May 6, 2022 that Aim for Zero: RLX Technology Plans to Achieve Carbon Neutrality By 2050.

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RLX Technology Inc. (NYSE: RLX, “RLX”) today announced its net-zero carbon emission plan, “Aim for Zero,” to achieve carbon neutrality in its operation by 2033 and along RLX’s value chain by 2050.

According to Aim for Zero, RLX, known for its RELX-branded e-cigarette, will take eight measures to achieve its goal of net-zero carbon emission in its value chain.

RLX Technology Inc. stock is now -56.15% down from its year-to-date (YTD) trading value. RLX Stock saw the intraday high of $1.87 and lowest of $1.67 per share. The company’s 52-week high price is 12.76, which means current price is +47.41% above from all time high which was touched on 01/03/22.

Compared to the average trading volume of 16.17M shares, RLX reached a trading volume of 8579949 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about RLX Technology Inc. [RLX]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for RLX shares is $5.62 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on RLX stock is a recommendation set at 2.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BofA Securities have made an estimate for RLX Technology Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on November 01, 2021. While these analysts kept the previous recommendation, Citigroup raised their target price to Buy. The new note on the price target was released on March 12, 2021, representing the official price target for RLX Technology Inc. stock. Previously, the target price had yet another raise to $30, while China Renaissance analysts kept a Buy rating on RLX stock.

The Average True Range (ATR) for RLX Technology Inc. is set at 0.18, with the Price to Sales ratio for RLX stock in the period of the last 12 months amounting to 2.16. The Price to Book ratio for the last quarter was 1.13, with the Price to Cash per share for the same quarter was set at 1.20.

How has RLX stock performed recently?

RLX Technology Inc. [RLX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -16.59. With this latest performance, RLX shares dropped by -3.93% in over the last four-week period, additionally sinking by -60.87% over the last 6 months – not to mention a drop of -82.80% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for RLX stock in for the last two-week period is set at 38.35, with the RSI for the last a single of trading hit 32.78, and the three-weeks RSI is set at 40.35 for RLX Technology Inc. [RLX]. The present Moving Average for the last 50 days of trading for this stock 2.0670, while it was recorded at 1.9080 for the last single week of trading, and 3.8137 for the last 200 days.

RLX Technology Inc. [RLX]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and RLX Technology Inc. [RLX] shares currently have an operating margin of +26.98 and a Gross Margin at +43.09. RLX Technology Inc.’s Net Margin is presently recorded at +23.76.

Return on Equity for this stock inclined to 26.70, with Return on Assets sitting at 19.69.

RLX Technology Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.90 and a Current Ratio set at 5.10.

Earnings analysis for RLX Technology Inc. [RLX]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for RLX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for RLX Technology Inc. go to 14.37%.

Insider trade positions for RLX Technology Inc. [RLX]

There are presently around $527 million, or 31.10% of RLX stock, in the hands of institutional investors. The top three institutional holders of RLX stocks are: IDG CHINA VENTURE CAPITAL FUND V ASSOCIATES L.P. with ownership of 60,068,870, which is approximately 0% of the company’s market cap and around 0.34% of the total institutional ownership; APOLETTO LTD, holding 33,995,474 shares of the stock with an approximate value of $63.23 million in RLX stocks shares; and VANGUARD GROUP INC, currently with $49.81 million in RLX stock with ownership of nearly 2.174% of the company’s market capitalization.

Positions in RLX Technology Inc. stocks held by institutional investors increased at the end of June and at the time of the June reporting period, where 75 institutional holders increased their position in RLX Technology Inc. [NYSE:RLX] by around 68,057,062 shares. Additionally, 46 investors decreased positions by around 60,160,644 shares, while 18 investors held positions by with 155,361,449 shares. The mentioned changes placed institutional holdings at 283,579,155 shares, according to the latest SEC report filing. RLX stock had 32 new institutional investments in for a total of 41,179,540 shares, while 17 institutional investors sold positions of 30,639,122 shares during the same period.