Gaotu Techedu (NYSE:GOTU) Shares Up 9.5%

Gaotu Techedu Inc. (NYSE:GOTU)’s stock price rose 9.5% during trading on Thursday . The stock traded as high as $6.52 and last traded at $6.43. Approximately 2,577,665 shares were traded during mid-day trading, a decline of 53% from the average daily volume of 5,499,900 shares. The stock had previously closed at $5.87.

Analyst Ratings Changes

GOTU has been the subject of several analyst reports. Citigroup upgraded Gaotu Techedu from a “sell” rating to a “buy” rating and boosted their price objective for the stock from $2.48 to $4.50 in a research report on Wednesday, January 3rd. CLSA raised Gaotu Techedu from an “underperform” rating to an “outperform” rating and set a $8.65 price target for the company in a research note on Wednesday, February 28th.

Gaotu Techedu Stock Performance

The stock has a market cap of $1.69 billion, a price-to-earnings ratio of -620.38 and a beta of 0.05. The company’s 50 day simple moving average is $6.52 and its 200 day simple moving average is $4.26.

Gaotu Techedu (NYSE:GOTU) last posted its quarterly earnings data on Tuesday, February 27th. The company reported ($0.07) earnings per share (EPS) for the quarter. Gaotu Techedu had a negative net margin of 0.10% and a negative return on equity of 0.10%. The company had revenue of $107.19 million during the quarter.

Hedge Funds Weigh In On Gaotu Techedu

Several hedge funds have recently modified their holdings of GOTU. Goldman Sachs Group Inc. lifted its holdings in shares of Gaotu Techedu by 2,548.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 6,998,033 shares of the company’s stock valued at $25,333,000 after buying an additional 6,733,849 shares during the period. Vanguard Group Inc. lifted its holdings in Gaotu Techedu by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 5,637,189 shares of the company’s stock valued at $20,407,000 after acquiring an additional 151,418 shares during the last quarter. Harvest Fund Management Co. Ltd boosted its position in shares of Gaotu Techedu by 20.4% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 5,373,915 shares of the company’s stock valued at $19,507,000 after purchasing an additional 909,354 shares in the last quarter. Acadian Asset Management LLC grew its stake in shares of Gaotu Techedu by 16.4% in the 3rd quarter. Acadian Asset Management LLC now owns 4,445,239 shares of the company’s stock worth $12,248,000 after purchasing an additional 625,976 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Gaotu Techedu by 76.6% in the 4th quarter. Bank of America Corp DE now owns 4,084,721 shares of the company’s stock worth $9,640,000 after purchasing an additional 1,772,187 shares during the last quarter. 48.42% of the stock is currently owned by institutional investors and hedge funds.

About Gaotu Techedu

Gaotu Techedu Inc, a technology-driven education company, provides online K-12 after-school tutoring services in the People's Republic of China. The company provides foreign language courses comprising English and Japanese, as well as test preparation courses for students taking language certification exams; and professional courses primarily for college students and adults preparing for professional qualification exams, such teacher's qualification, Chartered Financial Analyst designation, Certified Public Accountant designation, Certified Tax Agent designation, securities qualification exams, and other exams.