Gaotu Techedu Inc. (NYSE:GOTU – Get Free Report)’s share 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 changed 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.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on the stock. CLSA raised shares of Gaotu Techedu from an “underperform” rating to an “outperform” rating and set a $8.65 target price 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 upped their price target for the stock from $2.48 to $4.50 in a research note on Wednesday, January 3rd.
Read Our Latest Research Report on GOTU
Gaotu Techedu Stock Up 6.8 %
Gaotu Techedu (NYSE:GOTU – Get Free Report) last released its earnings results on Tuesday, February 27th. The company reported ($0.07) EPS for the quarter. Gaotu Techedu had a negative return on equity of 0.10% and a negative net margin of 0.10%. The business had revenue of $107.19 million during the quarter.
Institutional Trading of Gaotu Techedu
A number of hedge funds and other institutional investors have recently made changes to their positions in GOTU. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Gaotu Techedu during the third quarter valued at approximately $29,000. Tower Research Capital LLC TRC raised its holdings in shares of Gaotu Techedu by 543.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 14,988 shares of the company’s stock valued at $54,000 after acquiring an additional 12,659 shares during the period. QRG Capital Management Inc. acquired a new stake in shares of Gaotu Techedu during the third quarter valued at approximately $76,000. California Public Employees Retirement System raised its holdings 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 valued at $771,000 after acquiring an additional 49,540 shares during the period. Finally, Barclays PLC raised its holdings in shares of Gaotu Techedu by 97.1% during the third quarter. Barclays PLC now owns 102,511 shares of the company’s stock valued at $283,000 after acquiring an additional 50,511 shares during the period. 48.42% of the stock is currently owned by institutional investors.
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.
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