Xiangdong Chen Purchases 200,000 Shares of Gaotu Techedu (NYSE:GOTU) Stock

Gaotu Techedu Inc. (NYSE:GOTU) CEO Xiangdong Chen acquired 200,000 shares of Gaotu Techedu stock in a transaction dated Thursday, June 11th. The shares were bought at an average price of $2.23 per share, with a total value of $446,000.00. Following the transaction, the chief executive officer directly owned 7,714,529 shares in the company, valued at approximately $17,203,399.67. The trade was a 2.66% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Gaotu Techedu Stock Up 2.4%

Shares of NYSE:GOTU opened at $1.49 on Friday. The firm has a 50 day simple moving average of $1.86 and a 200-day simple moving average of $2.12. The company has a market capitalization of $356.18 million, a PE ratio of -6.19 and a beta of 0.60. Gaotu Techedu Inc. has a twelve month low of $1.40 and a twelve month high of $4.12. The company has a current ratio of 0.91, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10.

Gaotu Techedu (NYSE:GOTU) last announced its earnings results on Tuesday, June 2nd. The company reported $0.02 EPS for the quarter. The business had revenue of $245.04 million for the quarter, compared to analysts’ expectations of $233.35 million. Gaotu Techedu had a negative net margin of 6.42% and a negative return on equity of 29.69%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. HRT Financial LP lifted its position in Gaotu Techedu by 86.6% during the fourth quarter. HRT Financial LP now owns 22,020 shares of the company’s stock valued at $51,000 after buying an additional 10,221 shares in the last quarter. Walleye Trading LLC grew its position in Gaotu Techedu by 110.1% in the second quarter. Walleye Trading LLC now owns 21,722 shares of the company’s stock valued at $78,000 after acquiring an additional 11,383 shares in the last quarter. SmartHarvest Portfolios LLC acquired a new stake in Gaotu Techedu in the first quarter valued at approximately $29,000. Bank of America Corp DE grew its position in Gaotu Techedu by 10.5% in the third quarter. Bank of America Corp DE now owns 164,737 shares of the company’s stock valued at $537,000 after acquiring an additional 15,651 shares in the last quarter. Finally, American Century Companies Inc. grew its position in Gaotu Techedu by 57.0% in the second quarter. American Century Companies Inc. now owns 61,076 shares of the company’s stock valued at $220,000 after acquiring an additional 22,164 shares in the last quarter. 48.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of Gaotu Techedu from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, May 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has an average rating of “Sell”.

About Gaotu Techedu

Gaotu Techedu Inc (NYSE:GOTU), formerly known as GSX Techedu, is a Beijing-based provider of online education services in China. Since its founding in 2014, the company has built a technology-driven platform that delivers live, interactive tutoring sessions to students primarily in the K-12 segment. Gaotu Techedu’s rebranding in 2021 underscored its commitment to leveraging cutting-edge digital tools to expand access to quality instruction across core academic subjects.

The company’s main offerings include small-group and one-on-one classes in mathematics, Chinese, English, physics and chemistry, as well as targeted test preparation for high-stakes national and local examinations.