Gaotu Techedu (NYSE:GOTU) Shares Down 4.7%

Shares of Gaotu Techedu Inc. (NYSE:GOTU - Get Free Report) dropped 4.7% during mid-day trading on Tuesday . The company traded as low as $6.00 and last traded at $6.03. Approximately 507,298 shares changed hands during trading, a decline of 91% from the average daily volume of 5,538,945 shares. The stock had previously closed at $6.33.

Analysts Set New Price Targets

A number of research firms have recently commented on GOTU. CLSA upgraded shares of Gaotu Techedu from an "underperform" rating to an "outperform" rating and set a $8.65 price target for the company in a research report on Wednesday, February 28th. Citigroup upgraded shares of Gaotu Techedu from a "sell" rating to a "buy" rating and upped their target price for the stock from $2.48 to $4.50 in a research report on Wednesday, January 3rd.

Gaotu Techedu Stock Down 7.1 %

The firm's 50-day moving average is $6.47 and its 200-day moving average is $4.23. The company has a market capitalization of $1.53 billion, a PE ratio of -588.41 and a beta of 0.05.

Gaotu Techedu (NYSE:GOTU - Get Free Report) last posted its quarterly earnings results on Tuesday, February 27th. The company reported ($0.07) earnings per share for the quarter. The business had revenue of $107.19 million during 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 institutional investors have recently modified their holdings of GOTU. Goldman Sachs Group Inc. increased its stake 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 valued at $25,333,000 after purchasing an additional 6,733,849 shares in the last quarter. Yong Rong HK Asset Management Ltd bought a new stake in shares of Gaotu Techedu during the fourth quarter valued at approximately $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 valued at $6,777,000 after acquiring an additional 3,014,700 shares in the last quarter. Tiger Pacific Capital LP bought a new stake in shares of Gaotu Techedu during the fourth quarter valued at approximately $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 valued at $12,278,000 after acquiring an additional 2,214,765 shares in the last quarter. 48.42% of the stock is currently owned by hedge funds and other institutional investors.

About Gaotu Techedu

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.