Gridsum Holding (NASDAQ:GSUM) shot up 8.7% during trading on Tuesday . The company traded as high as $10.37 and last traded at $10.24. 525,662 shares changed hands during mid-day trading, an increase of 517% from the average session volume of 85,261 shares. The stock had previously closed at $9.42.

Gridsum Holding (NASDAQ:GSUM) last posted its quarterly earnings results on Thursday, August 24th. The technology company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.05). The company had revenue of $120.90 million during the quarter, compared to analyst estimates of $118.02 million. Gridsum Holding had a negative return on equity of 16.80% and a negative net margin of 26.87%. The business’s revenue for the quarter was up 43.8% compared to the same quarter last year.

Large investors have recently bought and sold shares of the business. FIL Ltd acquired a new stake in Gridsum Holding in the second quarter worth $7,668,000. Matthews International Capital Management LLC grew its holdings in Gridsum Holding by 30.4% in the second quarter. Matthews International Capital Management LLC now owns 467,447 shares of the technology company’s stock worth $4,001,000 after purchasing an additional 108,984 shares during the period. Quentec Asset Management LLC grew its holdings in Gridsum Holding by 30.7% in the second quarter. Quentec Asset Management LLC now owns 1,017,342 shares of the technology company’s stock worth $8,709,000 after purchasing an additional 238,964 shares during the period. Quantitative Systematic Strategies LLC acquired a new stake in Gridsum Holding in the second quarter worth $124,000. Finally, Wells Fargo & Company MN grew its holdings in Gridsum Holding by 10.3% in the second quarter. Wells Fargo & Company MN now owns 1,266,200 shares of the technology company’s stock worth $10,839,000 after purchasing an additional 118,000 shares during the period. Institutional investors and hedge funds own 37.31% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “Gridsum Holding (GSUM) Shares Up 8.7%” was published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this piece on another domain, it was stolen and republished in violation of US & international copyright & trademark laws. The original version of this piece can be read at https://www.thecerbatgem.com/2017/11/21/gridsum-holding-gsum-shares-up-8-7.html.

Gridsum Holding 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.

Receive News & Stock Ratings for Gridsum Holding Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gridsum Holding and related stocks with our FREE daily email newsletter.