Gaotu Techedu (NYSE:GOTU) Stock Price Up 9.3% - Time to Buy?

Gaotu Techedu Inc. (NYSE:GOTU - Get Free Report) shares were up 9.3% on Tuesday . The company traded as high as $3.84 and last traded at $3.93. Approximately 344,539 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 2,094,631 shares. The stock had previously closed at $3.59.

Gaotu Techedu Stock Performance

The firm has a market capitalization of $964.65 million, a price-to-earnings ratio of -7.78 and a beta of 0.36. The business has a fifty day moving average price of $3.77 and a 200 day moving average price of $3.13.

Gaotu Techedu (NYSE:GOTU - Get Free Report) last posted its quarterly earnings results on Thursday, May 15th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.05) by $0.12. Gaotu Techedu had a negative return on equity of 42.83% and a negative net margin of 18.07%. The firm had revenue of $28.53 million during the quarter, compared to the consensus estimate of $189.76 million.

Gaotu Techedu declared that its board has initiated a share repurchase plan on Thursday, May 15th that permits the company to buyback $0.00 in shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company's leadership believes its stock is undervalued.

Institutional Trading of Gaotu Techedu

A number of institutional investors have recently made changes to their positions in GOTU. Norges Bank acquired a new stake in Gaotu Techedu during the fourth quarter valued at approximately $3,583,000. Barclays PLC raised its holdings in shares of Gaotu Techedu by 195.8% during the fourth quarter. Barclays PLC now owns 215,982 shares of the company's stock valued at $473,000 after acquiring an additional 142,974 shares during the period. Marshall Wace LLP acquired a new stake in shares of Gaotu Techedu during the fourth quarter valued at approximately $781,000. Two Sigma Securities LLC acquired a new position in Gaotu Techedu in the 4th quarter valued at approximately $86,000. Finally, Lighthouse Investment Partners LLC acquired a new position in Gaotu Techedu in the 4th quarter valued at approximately $103,000. 48.42% of the stock is owned by institutional investors and hedge funds.

Gaotu Techedu Company Profile

Gaotu Techedu Inc, a technology-driven education company, provides learning services, educational content, and digitalized learning products in the People's Republic of China. The company offers traditional online academic subject tutoring services that covers academic subjects, such as mathematics, English, Chinese, physics, chemistry, biology, history, geography, and political science for students; non-academic tutoring services; personal interest courses comprising chess learning, family relationships and education, humanities, and science courses; and professional courses primarily for college students and adults preparing for professional qualification exams, such as teacher's qualification, Chartered Financial Analyst designation, Certified Public Accountant designation, and other exams.