Gaotu Techedu (NYSE:GOTU) Shares Up 3.6%

Gaotu Techedu Inc. (NYSE:GOTU - Get Free Report) shares traded up 3.6% during trading on Thursday . The stock traded as high as $6.61 and last traded at $6.55. 242,762 shares changed hands during mid-day trading, a decline of 96% from the average session volume of 5,690,154 shares. The stock had previously closed at $6.32.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on GOTU shares. Citigroup raised Gaotu Techedu from a "sell" rating to a "buy" rating and raised their price objective for the company from $2.48 to $4.50 in a research note on Wednesday, January 3rd. CLSA raised Gaotu Techedu from an "underperform" rating to an "outperform" rating and set a $8.65 price objective for the company in a research note on Wednesday, February 28th.

Gaotu Techedu Stock Up 3.2 %

The stock has a market cap of $1.70 billion, a price-to-earnings ratio of -651.85 and a beta of 0.05. The stock has a fifty day moving average of $6.37 and a two-hundred day moving average of $4.15.

Gaotu Techedu (NYSE:GOTU - Get Free Report) last issued 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

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Acadian Asset Management LLC increased its holdings in Gaotu Techedu by 16.4% in the third quarter. Acadian Asset Management LLC now owns 4,445,239 shares of the company's stock valued at $12,248,000 after buying an additional 625,976 shares during the last quarter. QRG Capital Management Inc. bought a new stake in Gaotu Techedu in the third quarter valued at about $76,000. Harvest Fund Management Co. Ltd increased its holdings in Gaotu Techedu by 98.4% in the third quarter. Harvest Fund Management Co. Ltd now owns 4,464,561 shares of the company's stock valued at $12,278,000 after buying an additional 2,214,765 shares during the last quarter. California Public Employees Retirement System increased its holdings in Gaotu Techedu by 21.5% in the third quarter. California Public Employees Retirement System now owns 279,490 shares of the company's stock valued at $771,000 after buying an additional 49,540 shares during the last quarter. Finally, Barclays PLC increased its holdings in Gaotu Techedu by 97.1% in the third quarter. Barclays PLC now owns 102,511 shares of the company's stock valued at $283,000 after buying an additional 50,511 shares during the last quarter. 48.42% of the stock is owned by hedge funds and other institutional investors.

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.