Gridsum Holding Inc -‘s Lock-Up Period To Expire Tomorrow (NASDAQ:GSUM)
Gridsum Holding Inc -‘s (NASDAQ:GSUM) lock-up period is set to expire on Wednesday, March 22nd. Gridsum Holding Inc – had issued 6,700,000 shares in its IPO on September 23rd. The total size of the offering was $87,100,000 based on an initial share price of $13.00. After the expiration of the company’s lock-up period, restrictions preventing company insiders and major shareholders from selling shares in the company will be lifted.
Separately, Zacks Investment Research raised shares of Gridsum Holding Inc – from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a report on Monday.
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Gridsum Holding Inc – (NASDAQ:GSUM) opened at 13.60 on Tuesday. Gridsum Holding Inc – has a one year low of $9.90 and a one year high of $18.29. The company’s market capitalization is $390.73 million. The firm has a 50-day moving average of $12.03 and a 200 day moving average of $13.45.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in GSUM. Matthews International Capital Management LLC boosted its position in Gridsum Holding Inc – by 4.0% in the fourth quarter. Matthews International Capital Management LLC now owns 15,600 shares of the company’s stock valued at $159,000 after buying an additional 600 shares during the last quarter. Two Sigma Investments LP bought a new position in Gridsum Holding Inc – during the fourth quarter valued at $184,000. Finally, Marshall Wace LLP boosted its position in Gridsum Holding Inc – by 31.6% in the fourth quarter. Marshall Wace LLP now owns 174,559 shares of the company’s stock valued at $1,779,000 after buying an additional 41,886 shares during the last quarter.
About Gridsum Holding Inc –
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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