Gridsum (GSUM) Shares Up 9.3%

Gridsum Holding Inc – (NASDAQ:GSUM) shares shot up 9.3% during mid-day trading on Monday . The company traded as high as $12.87 and last traded at $12.58. 1,658,500 shares were traded during mid-day trading, an increase of 79% from the average session volume of 929,015 shares. The stock had previously closed at $11.51.

A number of brokerages recently issued reports on GSUM. BidaskClub raised shares of Gridsum from a “hold” rating to a “buy” rating in a research note on Tuesday, January 16th. TheStreet raised shares of Gridsum from a “d+” rating to a “c-” rating in a research note on Thursday, January 11th.

The firm has a market capitalization of $385.64 and a P/E ratio of -9.74.

Gridsum (NASDAQ:GSUM) last announced its quarterly earnings data on Tuesday, November 28th. The technology company reported ($0.17) earnings per share (EPS) for the quarter. Gridsum had a negative net margin of 27.91% and a negative return on equity of 19.63%.

A number of large investors have recently made changes to their positions in GSUM. TIAA CREF Investment Management LLC bought a new position in Gridsum in the second quarter valued at approximately $104,000. Northern Trust Corp bought a new stake in shares of Gridsum during the second quarter worth $106,000. State Street Corp bought a new stake in shares of Gridsum during the second quarter worth $112,000. Stifel Financial Corp bought a new stake in shares of Gridsum during the second quarter worth $226,000. Finally, Whalerock Point Partners LLC bought a new stake in shares of Gridsum during the fourth quarter worth $626,000. 35.74% of the stock is currently owned by institutional investors and hedge funds.

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Gridsum Company Profile

Gridsum Holding Inc is a holding company. The Company provides data analysis software for multinational and domestic enterprises, and government agencies in China. The Company’s technology, the Gridsum Big Data Platform performs multi-dimensional correlation analysis and analyzes real-time events. The Company offers various types of solutions and technologies.

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