RLX Technology Inc. (NYSE: RLX) shares rose by 1.64% on Thursday, 03/23/23, and closed at $2.48 due to strong buyer demand. Investors are eagerly awaiting the company’s Q1 results, which are expected to be released between May 18, 2023, and May 22, 2023. Data indicates that analysts expect the company’s EPS to be $0 this quarter, with revenue estimates ranging from $80.41 million to $80.41 million. The short interest data shows that stock shorts accounted for 23.77 million shares as of January 30, 2023, resulting in a short ratio of 2.66.
Furthermore, the company’s technical analysis indicates that the stock’s PEG ratio is approximately 0.84, with the price of RLX currently trading nearly 5.22% and 3.66% away from the simple moving averages for 20 and 50 days, respectively. The stock’s 7-day and 30-day volatility ratios are at 8.87% and 9.20%, respectively, while the company’s average true range (ATR) is 0.22.
The historical trading data for RLX Technology Inc. shows that the trading volumes over the past 10 days have averaged 15.47 million, and over the past 3 months, they’ve averaged 10.50 million. Nearly 59.01% of RLX Technology Inc.’s shares belong to company insiders, while institutional investors own 29.50% of the company’s shares.
RLX Technology Inc. (NYSE: RLX) Forecast: Anticipate a -2168.15% Drop in Coming Months
Shares of RLX Technology Inc. (NYSE:RLX) rose by 1.64% on Thursday, 03/23/23, and closed at $2.48 due to strong buyer demand. With a market capitalization of around $3.82 billion, investors are eagerly awaiting the company’s Q1 results, scheduled to be released between May 18, 2023, and May 22, 2023.
Analysts expect the company’s EPS to be $0 this quarter, increasing to $0.16 in fiscal year 2022 and $0.12 in fiscal year 2023. The data indicates that EPS growth is expected to be -27.30% in 2023, and -25.00% in the following year.
Revenue estimates for this quarter range from $80.41 million to $80.41 million, with an average forecast of a -65.50% sales growth compared to the same quarter last year. Analysts predict that the company’s year-over-year revenues in 2023 will reach $806.08 million, indicating a decrease of -31.90% from last year’s results.
While short-term indicators suggest a 50% Buy, medium and long-term indicators show that the stock is a 100% Buy. Two analysts have rated the stock’s forecast evaluation on a scale of 1.00-5.00, indicating a Buy recommendation. No analysts rated the stock as Hold or Overweight, while 2 recommend it as Buy. None rated it as Underweight or Sell. Therefore, investors who wish to increase their holdings in the company’s stock will have the opportunity to do so, as the average rating for the stock is Buy.
According to the technical picture, revisions can be a useful indicator to gain insight into short-term price movements. However, no upward or downward reviews occurred in the last seven days.
Investors should be aware that the data predicts a significant drop in the company’s stock, with a -2168.15% decrease expected in the coming months. Therefore, it is essential to closely monitor the company’s performance and reconsider investment decisions in the future.
RLX Technology Inc. (NYSE: RLX) Technical Analysis and Historical Trading Data
RLX Technology Inc.’s technical analysis indicates that the stock’s PEG ratio is approximately 0.84. The price of RLX is currently trading about 5.22% and 3.66% away from the simple moving averages for 20 and 50 days, respectively. The Relative Strength Index (RSI) is at 52.97, while the 7-day and 30-day volatility ratios are at 8.87% and 9.20%, respectively. The company’s average true range (ATR) is 0.22.
Analysts have forecasted the company’s stock to trade at an average price of $39.09 over the next 52 weeks, with a low of $21.94 and a high of $56.25. Based on these price targets, the low is -784.68% off the current price, while the price needs to drop by -2168.15% to reach the yearly target high. The median price of $39.09 is expected to be welcomed by investors as it represents a decrease of -1476.21% from current levels.
Historical trading data for RLX Technology Inc. (NYSE:RLX) indicates that the trading volumes over the past 10 days have averaged 15.47 million, and over the past 3 months, they’ve averaged 10.50 million. As per the company’s latest data on outstanding shares, there are 1.32 billion shares outstanding.
Nearly 59.01% of RLX Technology Inc.’s shares belong to company insiders, while institutional investors own 29.50% of the company’s shares. The data on short interest shows that stock shorts accounted for 23.77 million shares as of January 30, 2023, resulting in a short ratio of 2.66. As of January 30, 2023, the short interest in RLX Technology Inc. stood at 1.54% of shares outstanding, with the number of short shares registered in December 29, 2022, reaching 27.67 million.
The stock has risen by 7.83% since the beginning of the year, showing potential for further growth. This could raise investors’ confidence to be optimistic about the RLX stock heading into the next quarter.
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