Gaotu Techedu Inc. (NYSE:GOTU – Get Rating) shares shot up 5.9% during mid-day trading on Friday . The stock traded as high as $3.69 and last traded at $3.57. 16,526 shares changed hands during trading, a decline of 100% from the average session volume of 6,925,411 shares. The stock had previously closed at $3.37.
Analyst Upgrades and Downgrades
Separately, Citigroup assumed coverage on shares of Gaotu Techedu in a report on Friday, December 30th. They issued a “sell” rating and a $1.30 price target on the stock.
Gaotu Techedu Trading Up 13.1 %
The business has a 50-day moving average price of $2.09 and a 200-day moving average price of $1.68. The stock has a market cap of $979.28 million, a PE ratio of 27.21 and a beta of -1.12.
Hedge Funds Weigh In On Gaotu Techedu
Several institutional investors have recently bought and sold shares of the company. State Street Corp lifted its stake in Gaotu Techedu by 4.5% during the third quarter. State Street Corp now owns 1,313,502 shares of the company’s stock worth $1,589,000 after purchasing an additional 56,287 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Gaotu Techedu by 4.5% in the third quarter. Vanguard Group Inc. now owns 5,508,954 shares of the company’s stock valued at $6,666,000 after purchasing an additional 238,918 shares during the period. Cubist Systematic Strategies LLC increased its holdings in shares of Gaotu Techedu by 197.0% in the third quarter. Cubist Systematic Strategies LLC now owns 159,935 shares of the company’s stock valued at $194,000 after purchasing an additional 106,080 shares during the period. Nuveen Asset Management LLC increased its holdings in shares of Gaotu Techedu by 54.8% in the third quarter. Nuveen Asset Management LLC now owns 246,300 shares of the company’s stock valued at $298,000 after purchasing an additional 87,200 shares during the period. Finally, Envestnet Asset Management Inc. grew its holdings in Gaotu Techedu by 148.6% during the third quarter. Envestnet Asset Management Inc. now owns 75,679 shares of the company’s stock worth $92,000 after acquiring an additional 45,235 shares during the period. 11.91% of the stock is owned by institutional investors and hedge funds.
About Gaotu Techedu
Gaotu Techedu Inc, a technology-driven education company, provides online K-12 after-school tutoring services in the People's Republic of China. Its K-12 after-school tutoring courses cover various K-12 academic subjects, including mathematics, English, Chinese, physics, chemistry, biology, history, geography, and political science.
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