Gaotu Techedu (NYSE:GOTU) Trading Up 9.5%

Gaotu Techedu Inc. (NYSE:GOTU - Get Free Report)'s stock price rose 9.5% during mid-day trading on Thursday . The stock traded as high as $6.52 and last traded at $6.43. Approximately 2,577,665 shares were traded during trading, a decline of 53% from the average daily volume of 5,499,900 shares. The stock had previously closed at $5.87.

Wall Street Analyst Weigh In

GOTU has been the subject of several recent analyst reports. CLSA upgraded Gaotu Techedu from an "underperform" rating to an "outperform" rating and set a $8.65 target price for the company in a research report on Wednesday, February 28th. Citigroup upgraded 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.

Gaotu Techedu Price Performance

The stock has a market cap of $1.67 billion, a PE ratio of -637.86 and a beta of 0.05. The business has a fifty day moving average of $6.52 and a 200-day moving average of $4.26.

Gaotu Techedu (NYSE:GOTU - Get Free Report) last announced its quarterly earnings results on Tuesday, February 27th. The company reported ($0.07) earnings per share (EPS) for the quarter. The firm had revenue of $107.19 million during the quarter. Gaotu Techedu had a negative net margin of 0.10% and a negative return on equity of 0.10%.

Hedge Funds Weigh In On Gaotu Techedu

Large investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. increased its position in shares of Gaotu Techedu by 2,548.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 6,998,033 shares of the company's stock worth $25,333,000 after purchasing an additional 6,733,849 shares in the last quarter. Yong Rong HK Asset Management Ltd acquired a new position in shares of Gaotu Techedu during the fourth quarter worth $11,487,000. Renaissance Technologies LLC increased its position in shares of Gaotu Techedu by 325.8% during the first quarter. Renaissance Technologies LLC now owns 3,940,100 shares of the company's stock worth $6,777,000 after purchasing an additional 3,014,700 shares in the last quarter. Tiger Pacific Capital LP acquired a new position in shares of Gaotu Techedu during the fourth quarter worth $10,665,000. Finally, Harvest Fund Management Co. Ltd increased its position in shares of Gaotu Techedu by 98.4% during the third quarter. Harvest Fund Management Co. Ltd now owns 4,464,561 shares of the company's stock worth $12,278,000 after purchasing an additional 2,214,765 shares in the last quarter. 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.