17 Education & Technology Group (NYSE:YQ) Stock Falls 2% – Here’s Why

17 Education & Technology Group Inc. (NYSE:YQ) shares traded down 2% during mid-day trading on Thursday. The stock traded as low as $3.30 and last traded at $3.40. Approximately 3,001 shares were traded during trading, a decline of 90% from the average session volume of 28,838 shares. The stock had previously closed at $3.47.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Greenridge Global began coverage on shares of 17 Education & Technology Group in a research note on Thursday, September 17th. They issued a “buy” rating for the company. Zacks Research upgraded shares of 17 Education & Technology Group to a “hold” rating in a research report on Monday, September 21st. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

17 Education & Technology Group Stock Performance

The firm has a fifty day moving average price of $3.10 and a two-hundred day moving average price of $2.54. The stock has a market capitalization of $37.85 million, a P/E ratio of -0.87 and a beta of 0.84.

17 Education & Technology Group announced that its Board of Directors has approved a stock buyback program on Thursday, September 3rd that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Share repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

17 Education & Technology Group Company Profile

17 Education & Technology Group is a China-based education technology company that provides digital services to K-12 schools, teachers, students and parents. The company develops technology designed to support teaching, learning and school administration, with an emphasis on using data and digital tools to improve educational outcomes.

Its offerings include online homework and learning applications, classroom interaction tools, teacher support and professional development services, school management solutions, and data analytics.