Gaotu Techedu (NYSE:GOTU) Stock Price Down 5.7%

Gaotu Techedu Inc. (NYSE:GOTU)’s share price dropped 5.7% during mid-day trading on Wednesday . The company traded as low as $6.56 and last traded at $6.58. Approximately 990,345 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 5,370,552 shares. The stock had previously closed at $6.98.

Analyst Upgrades and Downgrades

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

Gaotu Techedu Stock Performance

The stock’s 50 day moving average price is $6.72 and its two-hundred day moving average price is $4.41.

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. Gaotu Techedu had a negative return on equity of 0.10% and a negative net margin of 0.10%. The firm had revenue of $107.19 million for the quarter.

Institutional Trading of Gaotu Techedu

A number of hedge funds have recently bought and sold shares of GOTU. Acadian Asset Management LLC boosted its holdings in shares of Gaotu Techedu by 16.4% in the 3rd 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. Harvest Fund Management Co. Ltd boosted its holdings in shares of Gaotu Techedu by 20.4% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 5,373,915 shares of the company’s stock valued at $19,507,000 after purchasing an additional 909,354 shares during the last quarter. QRG Capital Management Inc. acquired a new position in shares of Gaotu Techedu in the 3rd quarter valued at $76,000. California Public Employees Retirement System boosted its holdings in shares of Gaotu Techedu by 21.5% in the 3rd quarter. California Public Employees Retirement System now owns 279,490 shares of the company’s stock valued at $771,000 after purchasing an additional 49,540 shares during the last quarter. Finally, Barclays PLC boosted its holdings in shares of Gaotu Techedu by 97.1% in the 3rd quarter. Barclays PLC now owns 102,511 shares of the company’s stock valued at $283,000 after purchasing an additional 50,511 shares during the last quarter. Institutional investors and hedge funds own 48.42% 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.