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

Shares of 17 Education & Technology Group Inc. (NYSE:YQ) passed above its 200-day moving average during trading on Tuesday. The stock has a 200-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.

Wall Street Analyst Weigh In

YQ has been the subject of a number of research reports. Zacks Research upgraded 17 Education & Technology Group to a “hold” rating in a report on Monday, September 21st. Greenridge Global began coverage on shares of 17 Education & Technology Group in a report on Thursday, September 17th. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy”.

17 Education & Technology Group Price Performance

The firm’s 50 day moving average price is $3.32 and its 200-day moving average price is $2.71. The stock has a market cap of $31.45 million, a P/E ratio of -0.72 and a beta of 0.96.

17 Education & Technology Group declared that its board has initiated a stock buyback plan on Thursday, September 3rd that authorizes the company to buy back outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is 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.