Stock of RELX Technology Rises 4.5% in US Market

Business by 2FIRSTS.ai

Dec.14.2023

Stock of RELX Technology Rises 4.5% in US Market

RELX Technology Inc.'s stock rose by 4.5% to $2.11 as trading volume dropped by 62% on December 13th.

According to reports in the US stock market, on December 13th, the stock of RELX Technology Inc. increased by 4.5%. The highest price reached $2.12 per share, while the final trading price was $2.11 per share. Approximately 3,177,867 shares were traded during the midday trading session, which is a 62% decrease from its average daily trading volume of 8,373,088 shares. The previous day, the stock closed at $2.02 per share.

Wall Street analysts are predicting future growth for the company. Recently, Citigroup lowered its price target for RELX Technology from $3.15 to $2.40 in a research report. This downgrade was announced on Friday, the 18th of this month.

The market capitalization of RELX Technology is currently $3.36 billion, with a price-earnings ratio of 25.50 and a beta coefficient of 0.99. The company's 50-day moving average price is $1.84, while its 200-day moving average price is $1.71.

RELX Technology recently released its financial report for the quarter. On Monday, the 13th of this month, the company reported earnings per share of $0.02. The company's revenue for this quarter amounted to $58.67 million. RELX Technology's equity return rate stands at 0.45%, with a net profit margin of 5.32%.

RELX Technology has recently announced a variable dividend, which will be paid on Friday, December 22nd. Shareholders on record as of Friday, December 1st will receive a dividend of $0.01, representing a yield of 0.4%. The ex-dividend date for this payment is Thursday, November 30th. RELX Technology currently has a dividend yield of 12.5%.

In addition, several hedge funds and institutional investors have recently bought and sold shares of this company. BlackRock Inc., in particular, increased its stake in RELX Technology by 8.3% in the first quarter. Following this quarter's transactions, BlackRock currently holds 28,218,391 shares of the company, with a total value of $50.51 million.

RELX Technology is a company dedicated to the research and development, distribution, and sales of e-cigarette products. Its operations span across China, providing services to partner distributors and other retail channels. RELX Technology was established in 2018, with its headquarters located in Beijing, China.

References:

[1] RLX Technology (NYSE:RLX) Stock Price Up 4.5%

Also Read:

[1] Business Acquisitions Propel RELX's International Expansion Plan

[2] UBS Raises Stock Target Price for RLX Technology

[3] RELX Technology Ranked First in Global E-cigarette Companies

#Technology.#RELX Technology #E-cigarette Market

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