17 Education & Technology Group (NYSE:YQ) Stock Breaks Above 200 Day Moving Average – Here’s What Happened

17 Education & Technology Group Inc. (NYSE:YQ) shares passed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $2.71 and traded as high as $2.92. 17 Education & Technology Group shares last traded at $2.90, with a volume of 2,601 shares traded.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Zacks Research upgraded 17 Education & Technology Group to a “hold” rating in a research note on Monday, September 21st. Greenridge Global assumed coverage on 17 Education & Technology Group in a research note on Thursday, September 17th. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

17 Education & Technology Group Stock Up 6.5%

The business has a 50-day moving average price of $3.34 and a 200-day moving average price of $2.71. The firm has a market capitalization of $29.44 million, a price-to-earnings ratio of -0.68 and a beta of 0.96.

17 Education & Technology Group declared that its Board of Directors has authorized a stock buyback program on Thursday, September 3rd that allows the company to buy back shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

About 17 Education & Technology Group

17 Education & Technology Group Inc. is a China-based education technology company that provides digital tools and services for K-12 education. The company operates an online platform that connects students, teachers, parents and schools, with a focus on improving teaching, learning and communication through technology. Its products and services include digital homework and learning tools, educational content, classroom and school-management solutions, and data-driven applications designed to support teachers and school administrators.