GSX Techedu (NYSE:GSX) Shares Down 5.9%

GSX Techedu Inc. (NYSE:GSX) fell 5.9% during trading on Wednesday . The company traded as low as $13.35 and last traded at $13.40, 655,066 shares traded hands during trading. A decline of 23% from the average session volume of 853,783 shares. The stock had previously closed at $14.24.

Separately, Barclays reaffirmed a “buy” rating on shares of GSX Techedu in a research report on Wednesday, July 31st.

The company’s 50-day simple moving average is $11.43.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Point72 Hong Kong Ltd purchased a new position in shares of GSX Techedu during the 2nd quarter valued at $265,000. Allianz Asset Management GmbH purchased a new position in shares of GSX Techedu during the 2nd quarter valued at $1,080,000. Monashee Investment Management LLC purchased a new position in shares of GSX Techedu during the 2nd quarter valued at $1,117,000. William Blair Investment Management LLC purchased a new position in shares of GSX Techedu during the 2nd quarter valued at $3,745,000. Finally, Broad Peak Investment Management LTD. purchased a new position in shares of GSX Techedu during the 2nd quarter valued at $6,474,000. 0.26% of the stock is currently owned by hedge funds and other institutional investors.

GSX Techedu Company Profile (NYSE:GSX)

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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