By Christiana Sciaudone
Investing.com -- K12 (NYSE:LRN) Inc shares jumped 6% to a record on Thursday after announcing new tools for elementary education, a day after saying it was hiring 1,300 educators for the upcoming school year.
Shares of the learning company jumped almost 10%, to $43.11 on Wednesday after Citron Research said the company should be trading at $100, and is heavily undervalued.
K12 has two buy ratings, one hold and no sells, according to data compiled by Investing.com, with an average price target of $32. The company trades at a price to earnings ratio of 76, compared to about 16 for the long-term ratio of the Dow Jones Industrial Average, according to Zacks Research.
The newly redesigned online school for kindergarten through fifth grade has updated visual designs and improved speed, accessibility, and scalability. It also has a mobile-friendly platform that allows for more location-flexibility..
On Wednesday, K12 said it expects more than 1,300 educators to support grades K-12, on top of its current 6,000-plus employees.