Gridsum Holding (GSUM) Shares Up 8.7%
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.
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.
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