Gaotu Techedu (NYSE:GOTU) Stock Price Down 5.7%

Gaotu Techedu Inc. (NYSE:GOTU - Get Free Report)'s stock price traded down 5.7% during mid-day trading on Wednesday . The company traded as low as $6.56 and last traded at $6.58. 990,345 shares traded hands during trading, a decline of 82% from the average session volume of 5,370,552 shares. The stock had previously closed at $6.98.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Citigroup raised Gaotu Techedu from a "sell" rating to a "buy" rating and raised their price objective for the stock from $2.48 to $4.50 in a research report 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 report on Wednesday, February 28th.

Gaotu Techedu Stock Performance

The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of -644.36 and a beta of 0.05. The firm has a 50-day simple moving average of $6.69 and a two-hundred day simple moving average of $4.40.

Gaotu Techedu (NYSE:GOTU - Get Free Report) last released its earnings results on Tuesday, February 27th. The company reported ($0.07) earnings per share 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%.

Institutional Investors Weigh In On Gaotu Techedu

Several large investors have recently modified their holdings of GOTU. California Public Employees Retirement System raised its stake in shares of Gaotu Techedu by 21.5% during the third quarter. California Public Employees Retirement System now owns 279,490 shares of the company's stock worth $771,000 after purchasing an additional 49,540 shares during the last quarter. Harvest Fund Management Co. Ltd raised its stake 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 during the last quarter. Barclays PLC raised its stake in shares of Gaotu Techedu by 97.1% during the third quarter. Barclays PLC now owns 102,511 shares of the company's stock worth $283,000 after purchasing an additional 50,511 shares during the last quarter. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Gaotu Techedu during the third quarter worth approximately $29,000. Finally, QRG Capital Management Inc. purchased a new stake in shares of Gaotu Techedu during the third quarter worth approximately $76,000. Hedge funds and other 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.