Gaotu Techedu (NYSE:GOTU) Stock Price Down 4.7%

Shares of Gaotu Techedu Inc. (NYSE:GOTU) were down 4.7% during mid-day trading on Tuesday . The stock traded as low as $6.00 and last traded at $6.03. Approximately 507,298 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 5,538,945 shares. The stock had previously closed at $6.33.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on GOTU shares. Citigroup raised shares of Gaotu Techedu from a “sell” rating to a “buy” rating and boosted their price target for the company from $2.48 to $4.50 in a report on Wednesday, January 3rd. CLSA raised shares of Gaotu Techedu from an “underperform” rating to an “outperform” rating and set a $8.65 price target for the company in a report on Wednesday, February 28th.

Gaotu Techedu Price Performance

The stock’s 50 day moving average is $6.52 and its two-hundred day moving average is $4.26.

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

Institutional Investors Weigh In On Gaotu Techedu

A number of institutional investors and hedge funds have recently modified their holdings of GOTU. Envestnet Asset Management Inc. bought a new stake in shares of Gaotu Techedu in the 1st quarter valued at about $51,000. JPMorgan Chase & Co. raised its holdings in shares of Gaotu Techedu by 130.6% in the 1st quarter. JPMorgan Chase & Co. now owns 360,832 shares of the company’s stock valued at $621,000 after purchasing an additional 204,337 shares during the period. Acadian Asset Management LLC bought a new position in Gaotu Techedu in the 1st quarter valued at about $176,000. Vanguard Group Inc. raised its holdings in Gaotu Techedu by 7.5% in the 1st quarter. Vanguard Group Inc. now owns 5,106,072 shares of the company’s stock valued at $8,783,000 after acquiring an additional 357,185 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in Gaotu Techedu by 325.8% in the 1st quarter. Renaissance Technologies LLC now owns 3,940,100 shares of the company’s stock valued at $6,777,000 after acquiring an additional 3,014,700 shares during the period. 48.42% of the stock is owned by institutional investors.

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.