Zacks Investment Research cut shares of LAIX (NASDAQ:LAIX) from a hold rating to a sell rating in a research note released on Saturday morning, Zacks.com reports.

According to Zacks, “LAIX Inc. is an artificial intelligence company primarily in China. It creates and delivers products and services for English learning. The company’s proprietary AI teacher utilizes cutting-edge deep learning and adaptive learning technologies, big data, well-established education pedagogies and the mobile internet. LAIX Inc. is based in Shanghai, China. “

LAIX opened at $10.83 on Friday. LAIX has a fifty-two week low of $7.01 and a fifty-two week high of $16.50.

LAIX (NASDAQ:LAIX) last posted its quarterly earnings results on Wednesday, February 27th. The company reported ($0.50) earnings per share for the quarter. The firm had revenue of $32.65 million during the quarter.

Several hedge funds have recently modified their holdings of the stock. BlackRock Inc. bought a new position in shares of LAIX in the 4th quarter valued at approximately $65,000. Mondrian Capital Management LLC bought a new position in shares of LAIX in the 4th quarter valued at approximately $758,000. Finally, TB Alternative Assets Ltd. bought a new position in shares of LAIX in the 4th quarter valued at approximately $42,927,000.

LAIX Company Profile

LAIX Inc, an artificial intelligence company, provides online English learning services through Liulishuo mobile app in the People's Republic of China. It is also involved in the artificial intelligence lab operation; technology development; and loan arrangement activities. The company was formerly known as LingoChamp Inc LAIX Inc was founded in 2013 and is headquartered in Shanghai, the People's Republic of China.

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