Bank of America Initiates Coverage on GSX Techedu (NYSE:GSX)

Bank of America started coverage on shares of GSX Techedu (NYSE:GSX) in a research note published on Wednesday, BenzingaRatingsTable reports. The brokerage issued a buy rating and a $22.00 price objective on the stock.

Separately, Barclays increased their price target on shares of GSX Techedu from $16.00 to $17.00 and gave the company an overweight rating in a report on Tuesday, August 27th.

Shares of NYSE GSX traded up $0.11 during trading hours on Wednesday, hitting $14.31. 740,490 shares of the stock were exchanged, compared to its average volume of 680,700. The company has a current ratio of 2.84, a quick ratio of 2.84 and a debt-to-equity ratio of 0.11. The business’s 50 day moving average is $13.90. GSX Techedu has a one year low of $8.53 and a one year high of $17.54.

GSX Techedu (NYSE:GSX) last posted its quarterly earnings data on Thursday, August 22nd. The company reported $0.01 earnings per share (EPS) for the quarter. The firm had revenue of $51.52 million for the quarter. Equities research analysts forecast that GSX Techedu will post 0.72 EPS for the current fiscal year.

A number of institutional investors have recently modified their holdings of GSX. Broad Peak Investment Management LTD. bought a new stake in GSX Techedu in the 2nd quarter valued at $6,474,000. JPMorgan Chase & Co. bought a new stake in GSX Techedu in the 2nd quarter valued at $9,459,000. Monashee Investment Management LLC bought a new stake in GSX Techedu in the 2nd quarter valued at $1,117,000. Allianz Asset Management GmbH bought a new stake in GSX Techedu in the 2nd quarter valued at $1,080,000. Finally, William Blair Investment Management LLC bought a new stake in GSX Techedu in the 2nd quarter valued at $3,745,000. 6.64% of the stock is owned by hedge funds and other institutional investors.

GSX Techedu Company Profile

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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