Gaotu Techedu (NYSE:GOTU) Shares Up 9.5%

Shares of Gaotu Techedu Inc. (NYSE:GOTU) shot up 9.5% during trading on Thursday . The company traded as high as $6.52 and last traded at $6.43. 2,577,665 shares traded hands during mid-day trading, a decline of 53% from the average session volume of 5,499,900 shares. The stock had previously closed at $5.87.

Wall Street Analysts Forecast Growth

A number of research firms have commented on GOTU. CLSA raised 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 note on Wednesday, February 28th. Citigroup raised shares of Gaotu Techedu from a “sell” rating to a “buy” rating and boosted their price target for the stock from $2.48 to $4.50 in a research note on Wednesday, January 3rd.

Gaotu Techedu Stock Down 1.4 %

The stock’s 50 day moving average price is $6.59 and its 200-day moving average price is $4.30.

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

Institutional Investors Weigh In On Gaotu Techedu

A number of institutional investors have recently made changes to their positions in GOTU. Envestnet Asset Management Inc. purchased a new stake in shares of Gaotu Techedu in the 1st quarter valued at $51,000. JPMorgan Chase & Co. raised its holdings in Gaotu Techedu by 130.6% during the 1st quarter. JPMorgan Chase & Co. now owns 360,832 shares of the company’s stock valued at $621,000 after buying an additional 204,337 shares during the last quarter. Acadian Asset Management LLC bought a new stake in Gaotu Techedu during the 1st quarter valued at $176,000. Vanguard Group Inc. raised its holdings in Gaotu Techedu by 7.5% during the 1st quarter. Vanguard Group Inc. now owns 5,106,072 shares of the company’s stock valued at $8,783,000 after buying an additional 357,185 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Gaotu Techedu by 325.8% during the 1st quarter. Renaissance Technologies LLC now owns 3,940,100 shares of the company’s stock valued at $6,777,000 after buying an additional 3,014,700 shares during the last quarter. 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.