Shares of one of the leading omnichannel English language training (“ELT”) service providers in China, Meten EdtechX Education Group Ltd. (METX) have gained 6.19% in premarket trading at $1.03. At the end of the last trading session, METX added 0.52% to finish at $0.97. Meten EdtechX recorded a trading volume of 2.69 million shares, which is significantly below the average daily trading volume, which has been 9.34 million shares on average, for the last 50 days.
Within the last five days, METX stock prices have declined -2.64%; however, they have lost -31.69% in the last month. In the last three months, the price of METX stock has fallen by -63.26% and has fallen by -51.50 percent so far this year. As a result of encouraging bill and enrollment numbers, METX stock has been rising.
How have billing and enrollment at METX increased?
Meten EdtechX is one of the leading companies in the English language teaching market, delivering training courses in English for Chinese students and professionals. METX provides its services under three industry-leading brands using an effective digital platform and a network of training centers across the country. Those brands include ABC (primarily junior ELT services) , Meten (adult and junior ELT services), and Likeshuo (online ELT).
A unique combination of cutting-edge teaching technology and more than 25 years of experience make METX the perfect educational institution. A real-time learning analysis is a key component of METX’s AI-driven centralized teaching and management systems.
Meten Meten EdtechX has announced an increase of 247.8% and 163.9% in gross billing and student enrollment in its junior ELT business in May 2021 compared to the same period last year.
- There was also an increase of 92.4% and 65.2% in gross billing and student enrollment respectively compared to May 2019.
- A year-over-year increase of 408.5% and a 120.4% increase over the same period in 2019 was recorded for METX’s junior ELT business in the first five months of 2021.
- In May 2021, student renewals and referrals represented 57.7% of the total gross billing for METX’s junior ELT business, which indicates that the Company’s services have been well received by both students and their parents.
- METX plans to continue its activities in junior quality-oriented education in response to recent policy changes.
Other developments from METX:
METX announced this week its plans to use non-fungible token (“NFT”) technology to verify the authenticity of courseware created by educators to prevent plagiarism, promote education reform, and motivate teachers. The Meten EdtechX (METX) team works towards realizing the dream of digitalizing, innovating, and decentralizing education industry as a whole through the use of blockchain technology and NFTs.