GSX Techedu (NYSE:GSX) Trading 8.3% Higher

GSX Techedu Inc. (NYSE:GSX)’s stock price traded up 8.3% during mid-day trading on Friday . The company traded as high as $32.97 and last traded at $32.91, 3,162,600 shares were traded during mid-day trading. An increase of 31% from the average session volume of 2,407,271 shares. The stock had previously closed at $30.40.

A number of research analysts have issued reports on the stock. Barclays restated a “buy” rating and issued a $20.00 target price on shares of GSX Techedu in a report on Thursday, November 7th. Zacks Investment Research lowered shares of GSX Techedu from a “buy” rating to a “hold” rating in a report on Wednesday, January 8th. Bank of America assumed coverage on shares of GSX Techedu in a report on Wednesday, October 9th. They issued a “buy” rating and a $22.00 target price on the stock. ValuEngine lowered shares of GSX Techedu from a “buy” rating to a “hold” rating in a report on Tuesday, November 19th. Finally, UBS Group assumed coverage on shares of GSX Techedu in a report on Thursday. They issued a “buy” rating and a $40.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. GSX Techedu has an average rating of “Buy” and a consensus target price of $24.75.

The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.10. The company’s fifty day moving average price is $21.94 and its two-hundred day moving average price is $15.74.

GSX Techedu (NYSE:GSX) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by ($0.08). The firm had revenue of $557.00 million for the quarter, compared to analyst estimates of $485.07 million. The business’s revenue for the quarter was up 461.5% compared to the same quarter last year. As a group, research analysts anticipate that GSX Techedu Inc. will post 0.15 earnings per share for the current year.

Hedge funds have recently made changes to their positions in the company. Bank of America Corp DE purchased a new position in shares of GSX Techedu during the 2nd quarter worth about $39,540,000. Sylebra Capital Ltd purchased a new position in shares of GSX Techedu during the 2nd quarter worth about $9,711,000. State of New Jersey Common Pension Fund D purchased a new position in shares of GSX Techedu during the 3rd quarter worth about $1,218,000. Barclays PLC purchased a new position in shares of GSX Techedu during the 3rd quarter worth about $73,000. Finally, Price T Rowe Associates Inc. MD purchased a new position in shares of GSX Techedu during the 2nd quarter worth about $45,026,000. Institutional investors and hedge funds own 9.94% of the company’s stock.

GSX Techedu Company Profile (NYSE:GSX)

GSX Techedu Inc operates as an online education company in the People's Republic of China. The company provides online K-12 large-class after-school tutoring services. It offers English courses for children in kindergarten; and courses that help children in grade one through grade seven. The company also provides foreign language courses, including English, Japanese, and Korean, as well as English test preparation courses for students taking post-graduate entrance exams in China; and professional courses primarily for working adults preparing for professional qualification exams comprising teacher's qualification, the Chartered Financial Analyst designation, fund qualification, and securities qualification exams.

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