Jumei International Holding Ltd (NYSE:JMEI) shares gapped down before the market opened on Wednesday . The stock had previously closed at $2.85, but opened at $2.85. Jumei International shares last traded at $2.85, with a volume of 1446720 shares.

Several research analysts have recently weighed in on the company. ValuEngine upgraded Jumei International from a “hold” rating to a “buy” rating in a report on Friday, December 1st. BidaskClub cut Jumei International from a “sell” rating to a “strong sell” rating in a report on Thursday, October 26th.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hershey Trust Co. acquired a new position in Jumei International in the fourth quarter valued at approximately $158,000. Profund Advisors LLC lifted its holdings in Jumei International by 5.2% in the second quarter. Profund Advisors LLC now owns 105,162 shares of the specialty retailer’s stock valued at $224,000 after acquiring an additional 5,155 shares during the last quarter. Finally, Hamilton Lane Advisors LLC acquired a new position in Jumei International in the fourth quarter valued at approximately $497,000. Hedge funds and other institutional investors own 25.40% of the company’s stock.

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About Jumei International

Jumei International Holding Limited is an online retailer of beauty products. The Company’s sales formats consist of curated sales, online shopping mall and flash sales. The Company’s Jumei Global sales channel is part of its curated sales format. The Company’s curated sales format includes branded beauty products, baby, children and maternity products, light luxury products and health supplements.

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