Gridsum (GSUM) Cut to “Hold” at ValuEngine

ValuEngine downgraded shares of Gridsum (NASDAQ:GSUM) from a buy rating to a hold rating in a research report released on Monday, ValuEngine reports.

GSUM stock remained flat at $$3.40 during trading on Monday. 400 shares of the company traded hands, compared to its average volume of 43,469. Gridsum has a 1 year low of $1.29 and a 1 year high of $7.05.

Gridsum (NASDAQ:GSUM) last posted its quarterly earnings data on Wednesday, April 24th. The technology company reported ($0.68) earnings per share for the quarter. The company had revenue of $16.66 million for the quarter.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Myriad Asset Management Ltd. acquired a new stake in Gridsum during the 1st quarter worth $606,000. Renaissance Technologies LLC acquired a new stake in Gridsum during the 1st quarter worth $819,000. Finally, Prudential PLC acquired a new stake in Gridsum during the 4th quarter worth $1,134,000. 34.03% of the stock is owned by hedge funds and other institutional investors.

About Gridsum

Gridsum Holding Inc provides data analysis software for enterprises and government agencies in China. Its proprietary distributed data architecture allows its customers to collect and analyze information; and Gridsum Big Data platform and Gridsum Prophet performs multi-dimensional correlation analysis and analyzes complex real-time events.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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