GSX Techedu Inc. (NYSE:GOTU) fell 6.8% on Friday . The company traded as low as $14.96 and last traded at $15.04. 28,290 shares were traded during mid-day trading, a decline of 100% from the average session volume of 10,698,406 shares. The stock had previously closed at $16.14.
GOTU has been the subject of a number of research analyst reports. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell downgraded GSX Techedu from a “neutral” rating to a “sell” rating in a research report on Friday. Nomura raised shares of GSX Techedu from a “reduce” rating to a “neutral” rating and cut their price target for the stock from $48.00 to $29.50 in a report on Monday, May 10th. Finally, The Goldman Sachs Group downgraded shares of GSX Techedu from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $60.00 to $20.00 in a report on Wednesday, June 2nd.
The stock has a market cap of $3.72 billion, a P/E ratio of -8.17 and a beta of -1.19.
GSX Techedu Inc, a technology-driven education company, provides online K-12 after-school tutoring services in the People's Republic of China. Its K-12 after-school tutoring courses cover various K-12 academic subjects, including mathematics, English, Chinese, physics, chemistry, biology, history, geography, and political science.
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