Gaotu Techedu (NYSE:GOTU) Shares Gap Up to $3.64

Gaotu Techedu Inc. (NYSE:GOTU – Get Rating) gapped up prior to trading on Wednesday . The stock had previously closed at $3.64, but opened at $3.82. Gaotu Techedu shares last traded at $3.81, with a volume of 34,922 shares traded.

Wall Street Analyst Weigh In

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 objective for the company.

Gaotu Techedu Trading Up 9.2 %

The firm has a market capitalization of $971.58 million, a PE ratio of 27.00 and a beta of -1.12. The business’s 50 day simple moving average is $2.33 and its two-hundred day simple moving average is $1.72.

Gaotu Techedu (NYSE:GOTU – Get Rating) last announced its earnings results on Tuesday, November 22nd. The company reported ($0.03) earnings per share for the quarter. The company had revenue of $85.21 million for the quarter. Gaotu Techedu had a net margin of 7.77% and a return on equity of 8.29%.

Institutional Investors Weigh In On Gaotu Techedu

A number of hedge funds have recently added to or reduced their stakes in the stock. State Street Corp raised its stake in Gaotu Techedu by 4.5% during the 3rd quarter. State Street Corp now owns 1,313,502 shares of the company’s stock valued at $1,589,000 after buying an additional 56,287 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Gaotu Techedu by 4.5% during the 3rd quarter. Vanguard Group Inc. now owns 5,508,954 shares of the company’s stock valued at $6,666,000 after acquiring an additional 238,918 shares during the period. Cubist Systematic Strategies LLC grew its position in shares of Gaotu Techedu by 197.0% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 159,935 shares of the company’s stock valued at $194,000 after acquiring an additional 106,080 shares during the period. Nuveen Asset Management LLC grew its position in shares of Gaotu Techedu by 54.8% during the 3rd quarter. Nuveen Asset Management LLC now owns 246,300 shares of the company’s stock valued at $298,000 after acquiring an additional 87,200 shares during the period. Finally, Envestnet Asset Management Inc. grew its position in shares of Gaotu Techedu by 148.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 75,679 shares of the company’s stock valued at $92,000 after acquiring an additional 45,235 shares during the period. 11.91% of the stock is currently owned by hedge funds and other institutional investors.

About Gaotu Techedu

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Gaotu Techedu, Inc is a technology-driven education company. Its core expertise is in online K-12 courses, and online K-12 large-class after-school tutoring service provider in China. The company’s K-12 courses cover all primary and secondary grades. It also offers foreign language, professional and interest courses.