Shares of Gaotu Techedu Inc. (NYSE:GOTU - Get Free Report) shot up 0.3% on Wednesday . The company traded as high as $1.95 and last traded at $1.9350. 99,199 shares traded hands during trading, a decline of 78% from the average session volume of 444,593 shares. The stock had previously closed at $1.93.
Analysts Set New Price Targets
A number of brokerages have weighed in on GOTU. Wall Street Zen raised shares of Gaotu Techedu from a "sell" rating to a "hold" rating in a research report on Saturday, December 27th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Gaotu Techedu in a research report on Friday, March 27th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of "Sell".
Get Our Latest Stock Report on GOTU
Gaotu Techedu Trading Up 0.3%
The business's 50-day moving average price is $2.05 and its 200 day moving average price is $2.43. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.94 and a quick ratio of 0.92. The firm has a market capitalization of $489.92 million, a price-to-earnings ratio of -10.18 and a beta of 0.70.
Gaotu Techedu (NYSE:GOTU - Get Free Report) last posted its earnings results on Thursday, March 5th. The company reported ($0.05) EPS for the quarter, topping analysts' consensus estimates of ($0.08) by $0.03. Gaotu Techedu had a negative net margin of 5.31% and a negative return on equity of 21.09%. The business had revenue of $240.88 million for the quarter, compared to analysts' expectations of $232.47 million.
Institutional Trading of Gaotu Techedu
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Gaotu Techedu by 1.2% in the third quarter. Vanguard Group Inc. now owns 5,192,148 shares of the company's stock worth $16,926,000 after buying an additional 63,891 shares during the last quarter. Millennium Management LLC increased its stake in shares of Gaotu Techedu by 602.0% in the first quarter. Millennium Management LLC now owns 1,996,144 shares of the company's stock worth $6,487,000 after buying an additional 1,711,774 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Gaotu Techedu by 157.3% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,568,492 shares of the company's stock worth $5,662,000 after buying an additional 958,782 shares during the last quarter. Marshall Wace LLP increased its stake in shares of Gaotu Techedu by 3,628.9% in the second quarter. Marshall Wace LLP now owns 788,541 shares of the company's stock worth $2,847,000 after buying an additional 767,394 shares during the last quarter. Finally, State Street Corp increased its stake in shares of Gaotu Techedu by 6.4% in the fourth quarter. State Street Corp now owns 418,306 shares of the company's stock worth $970,000 after buying an additional 25,074 shares during the last quarter. Institutional investors own 48.42% of the company's stock.
About Gaotu Techedu
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Gaotu Techedu Inc NYSE: GOTU, formerly known as GSX Techedu, is a Beijing-based provider of online education services in China. Since its founding in 2014, the company has built a technology-driven platform that delivers live, interactive tutoring sessions to students primarily in the K-12 segment. Gaotu Techedu's rebranding in 2021 underscored its commitment to leveraging cutting-edge digital tools to expand access to quality instruction across core academic subjects.
The company's main offerings include small-group and one-on-one classes in mathematics, Chinese, English, physics and chemistry, as well as targeted test preparation for high-stakes national and local examinations.
Further Reading
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