UBS Group Initiates Coverage on Grom Social Enterprises (NASDAQ:GROM)

UBS Group assumed coverage on shares of Grom Social Enterprises (NASDAQ:GROM) in a report issued on Thursday, The Fly reports. The brokerage set a “buy” rating on the stock.

GROM opened at $1.88 on Thursday. Grom Social Enterprises has a 1-year low of $1.60 and a 1-year high of $19.50. The company has a 50 day simple moving average of $2.36 and a two-hundred day simple moving average of $2.90. The company has a current ratio of 2.71, a quick ratio of 2.68 and a debt-to-equity ratio of 0.05.

Grom Social Enterprises (NASDAQ:GROM) last released its earnings results on Monday, November 22nd. The company reported ($0.21) EPS for the quarter. Grom Social Enterprises had a negative return on equity of 52.51% and a negative net margin of 129.27%. The company had revenue of $1.52 million during the quarter.

A number of institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC purchased a new stake in Grom Social Enterprises during the third quarter valued at $264,000. AE Wealth Management LLC purchased a new stake in Grom Social Enterprises during the third quarter valued at $594,000. Weaver Consulting Group purchased a new stake in Grom Social Enterprises during the third quarter valued at $42,000. Thrivent Financial for Lutherans purchased a new stake in Grom Social Enterprises during the second quarter valued at $56,000. Finally, Virtu Financial LLC purchased a new stake in Grom Social Enterprises during the second quarter valued at $63,000. 2.13% of the stock is currently owned by institutional investors.

About Grom Social Enterprises

Grom Social Enterprises, Inc owns and operates social media platform for kids. It also offers animation, network monitoring and security solutions, nutritional services, and mobile parenting application through its subsidiaries. The company was founded by Zach Marks on October 6, 2009 and is headquartered in Boca Raton, FL.

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