Gaotu Techedu (NYSE:GOTU) Stock Price Crosses Above Fifty Day Moving Average – Here’s What Happened

Shares of Gaotu Techedu Inc. (NYSE:GOTU) crossed above its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $2.40 and traded as high as $2.45. Gaotu Techedu shares last traded at $2.4350, with a volume of 331,551 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded Gaotu Techedu from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, October 30th. One investment analyst has rated the stock with a Sell rating. According to MarketBeat.com, Gaotu Techedu currently has an average rating of “Sell”.

Gaotu Techedu Price Performance

The stock has a market cap of $572.93 million, a price-to-earnings ratio of -11.59 and a beta of 0.81. The company’s 50 day moving average is $2.40 and its 200 day moving average is $2.02. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.86 and a quick ratio of 0.85.

Gaotu Techedu (NYSE:GOTU) last issued its earnings results on Thursday, August 27th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.08). Gaotu Techedu had a negative return on equity of 26.89% and a negative net margin of 5.00%. The company had revenue of $245.82 million for the quarter, compared to analyst estimates of $238.39 million.

Institutional Investors Weigh In On Gaotu Techedu

Several institutional investors have recently modified their holdings of the company. Headlands Technologies LLC acquired a new stake in shares of Gaotu Techedu in the 2nd quarter worth approximately $35,000. Public Employees Retirement System of Ohio purchased a new position in Gaotu Techedu in the 2nd quarter valued at approximately $53,000. Hsbc Holdings PLC increased its stake in Gaotu Techedu by 27.7% in the 1st quarter. Hsbc Holdings PLC now owns 161,501 shares of the company’s stock valued at $319,000 after purchasing an additional 35,044 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Gaotu Techedu by 2.2% during the first quarter. Renaissance Technologies LLC now owns 2,330,640 shares of the company’s stock worth $4,568,000 after purchasing an additional 50,362 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. (NYSE: GOTU) is a China-based education technology company that provides online and offline learning services. The company offers courses and educational content through digital platforms, supported by teachers, instructional materials, and technology designed to serve students and adult learners. Gaotu’s offerings have included educational programs in areas such as language learning, professional and vocational development, examination preparation, and other academic subjects.