Gaotu Techedu (NYSE:GOTU) Stock Price Down 4.7%

Shares of Gaotu Techedu Inc. (NYSE:GOTU) were down 4.7% on Tuesday . The stock traded as low as $6.00 and last traded at $6.03. Approximately 507,298 shares were traded during trading, a decline of 91% from the average daily volume of 5,538,945 shares. The stock had previously closed at $6.33.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on GOTU shares. Citigroup upgraded Gaotu Techedu from a “sell” rating to a “buy” rating and lifted their price target for the company from $2.48 to $4.50 in a research report on Wednesday, January 3rd. CLSA raised Gaotu Techedu from an “underperform” rating to an “outperform” rating and set a $8.65 price objective on the stock in a research note on Wednesday, February 28th.

Gaotu Techedu Price Performance

The business has a fifty day moving average price of $6.52 and a 200 day moving average price of $4.26.

Gaotu Techedu (NYSE:GOTU) last announced its earnings results on Tuesday, February 27th. The company reported ($0.07) earnings per share (EPS) for the quarter. The firm had revenue of $107.19 million during the quarter. Gaotu Techedu had a negative net margin of 0.10% and a negative return on equity of 0.10%.

Institutional Trading of Gaotu Techedu

A number of hedge funds have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. lifted its holdings in shares of Gaotu Techedu by 2,548.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 6,998,033 shares of the company’s stock valued at $25,333,000 after buying an additional 6,733,849 shares during the period. Vanguard Group Inc. raised its holdings in shares of Gaotu Techedu by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 5,637,189 shares of the company’s stock worth $20,407,000 after acquiring an additional 151,418 shares during the last quarter. Harvest Fund Management Co. Ltd raised its holdings in shares of Gaotu Techedu by 20.4% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 5,373,915 shares of the company’s stock worth $19,507,000 after acquiring an additional 909,354 shares during the last quarter. Acadian Asset Management LLC increased its stake in Gaotu Techedu by 16.4% in the third quarter. Acadian Asset Management LLC now owns 4,445,239 shares of the company’s stock valued at $12,248,000 after purchasing an additional 625,976 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in Gaotu Techedu by 76.6% in the fourth quarter. Bank of America Corp DE now owns 4,084,721 shares of the company’s stock valued at $9,640,000 after purchasing an additional 1,772,187 shares during the last quarter. 48.42% 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. 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.