Gaotu Techedu (NYSE:GOTU) Trading Up 6.4%

Gaotu Techedu Inc. (NYSE:GOTU)’s share price rose 6.4% during trading on Thursday . The company traded as high as $6.88 and last traded at $6.86. Approximately 2,041,593 shares changed hands during mid-day trading, a decline of 62% from the average daily volume of 5,379,380 shares. The stock had previously closed at $6.45.

Analysts Set New Price Targets

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

Gaotu Techedu Price Performance

The firm has a market cap of $1.80 billion, a PE ratio of -688.31 and a beta of 0.05. The business has a 50-day moving average price of $6.72 and a two-hundred day moving average price of $4.41.

Gaotu Techedu (NYSE:GOTU) last posted its quarterly earnings data on Tuesday, February 27th. The company reported ($0.07) EPS for the quarter. The company 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 Trading of Gaotu Techedu

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. grew its holdings in Gaotu Techedu by 2,548.9% in the 4th 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. Garden State Investment Advisory Services LLC purchased a new stake in Gaotu Techedu in the 4th quarter valued at about $1,062,000. HCEP Management Ltd purchased a new stake in Gaotu Techedu in the 4th quarter valued at about $3,620,000. Tiger Pacific Capital LP purchased a new stake in Gaotu Techedu in the 4th quarter valued at about $10,665,000. Finally, Tower Research Capital LLC TRC grew its holdings in Gaotu Techedu by 543.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 14,988 shares of the company’s stock valued at $54,000 after buying an additional 12,659 shares during the period. Hedge funds and other institutional investors own 48.42% of the company’s stock.

Gaotu Techedu Company Profile

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.