China Online Education Group (NYSE:COE) saw a large increase in short interest in the month of August. As of August 13th, there was short interest totalling 178,800 shares, an increase of 121.6% from the July 29th total of 80,700 shares. Approximately 8.0% of the company’s shares are sold short. Based on an average trading volume of 377,200 shares, the days-to-cover ratio is presently 0.5 days.
Several equities research analysts have weighed in on COE shares. Needham & Company LLC lowered their target price on China Online Education Group from $36.00 to $32.00 and set a “buy” rating for the company in a report on Thursday, July 22nd. Benchmark cut China Online Education Group from a “buy” rating to a “hold” rating in a report on Monday, July 26th.
Get China Online Education Group alerts: NYSE:COE traded up $0.12 during mid-day trading on Friday, hitting $2.68. 385,857 shares of the company’s stock traded hands, compared to its average volume of 624,247. The stock has a fifty day moving average of $5.08. China Online Education Group has a twelve month low of $1.92 and a twelve month high of $30.85. The company has a market cap of $57.83 million, a P/E ratio of 4.06 and a beta of -0.87.
Several hedge funds have recently made changes to their positions in COE. JPMorgan Chase & Co. increased its holdings in shares of China Online Education Group by 231.3% in the fourth quarter. JPMorgan Chase & Co. now owns 1,206 shares of the company’s stock valued at $33,000 after purchasing an additional 842 shares during the period. Citigroup Inc. purchased a new stake in shares of China Online Education Group in the first quarter worth about $48,000. Trexquant Investment LP purchased a new stake in shares of China Online Education Group in the second quarter worth about $78,000. Goldman Sachs Group Inc. purchased a new stake in shares of China Online Education Group in the second quarter worth about $89,000. Finally, State Street Corp boosted its stake in shares of China Online Education Group by 27.0% in the second quarter. State Street Corp now owns 24,223 shares of the company’s stock worth $190,000 after buying an additional 5,156 shares during the last quarter. 42.01% of the stock is currently owned by institutional investors and hedge funds.
About China Online Education Group
China Online Education Group engages in the operation of an online education platform in China. Its online and mobile education platforms enable students across China to take live interactive english lessons with overseas foreign teachers, on demand. The company was founded by Jia Jia Huang, Ting Shu, and Li Ming Zhang in November 2012 and is headquartered in Beijing, China.
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