Gaotu Techedu (NYSE:GOTU) Shares Gap Down to $2.60

Shares of Gaotu Techedu Inc. (NYSE:GOTU) gapped down prior to trading on Monday . The stock had previously closed at $2.60, but opened at $2.52. Gaotu Techedu shares last traded at $2.61, with a volume of 197,819 shares traded.

Wall Street Analysts Forecast Growth

Separately, CLSA cut Gaotu Techedu from an “outperform” rating to an “underperform” rating and dropped their price target for the company from $3.32 to $3.30 in a research report on Thursday, August 31st.

Gaotu Techedu Trading Down 0.8 %

The business has a 50-day moving average price of $3.25 and a 200 day moving average price of $3.37. The stock has a market cap of $669.64 million, a PE ratio of 25.80 and a beta of -0.52.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Keystone Investors PTE Ltd. purchased a new stake in Gaotu Techedu during the 1st quarter worth about $23,522,000. Strategic Vision Investment Ltd lifted its holdings in Gaotu Techedu by 218.0% during the 1st quarter. Strategic Vision Investment Ltd now owns 5,300,610 shares of the company’s stock worth $22,369,000 after purchasing an additional 3,633,520 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in Gaotu Techedu during the 1st quarter worth about $13,951,000. Renaissance Technologies LLC lifted its holdings in Gaotu Techedu by 325.8% during the 1st quarter. Renaissance Technologies LLC now owns 3,940,100 shares of the company’s stock worth $6,777,000 after purchasing an additional 3,014,700 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new stake in Gaotu Techedu during the 2nd quarter worth about $6,524,000. Hedge funds and other institutional investors own 15.78% of the company’s stock.

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.