Gridsum Holding Inc – (NASDAQ:GSUM) Sees Significant Drop in Short Interest

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Gridsum Holding Inc – (NASDAQ:GSUM) was the recipient of a large decline in short interest in September. As of September 30th, there was short interest totalling 135,200 shares, a decline of 28.2% from the September 15th total of 188,200 shares. Based on an average daily volume of 539,400 shares, the days-to-cover ratio is presently 0.3 days.

A hedge fund recently bought a new stake in Gridsum stock. Goldman Sachs Group Inc. acquired a new position in Gridsum Holding Inc – (NASDAQ:GSUM) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 783,218 shares of the technology company’s stock, valued at approximately $548,000. Goldman Sachs Group Inc. owned about 2.27% of Gridsum as of its most recent SEC filing. 15.62% of the stock is currently owned by institutional investors and hedge funds.

Shares of GSUM traded down $0.01 during mid-day trading on Friday, reaching $1.80. The company had a trading volume of 323,168 shares, compared to its average volume of 448,889. The firm has a 50-day moving average price of $1.30 and a 200 day moving average price of $0.88. Gridsum has a 52 week low of $0.24 and a 52 week high of $2.50. The company has a market capitalization of $62.03 million, a price-to-earnings ratio of -0.78 and a beta of 1.91.

About Gridsum

Gridsum Holding Inc provides data analysis software for enterprises and government agencies in China. Its proprietary distributed data architecture allows its customers to collect and analyze information; and Gridsum Big Data platform and Gridsum Prophet performs multi-dimensional correlation analysis and analyzes complex real-time events.

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