Gaotu Techedu (NYSE:GOTU) Shares Gap Down to $6.38

Gaotu Techedu Inc. (NYSE:GOTU)’s share price gapped down before the market opened on Friday . The stock had previously closed at $6.38, but opened at $6.18. Gaotu Techedu shares last traded at $6.26, with a volume of 132,633 shares changing hands.

Wall Street Analysts Forecast Growth

GOTU has been the topic of several research analyst reports. CLSA upgraded shares of Gaotu Techedu from an “underperform” rating to an “outperform” rating and set a $8.65 price target on the stock in a report on Wednesday, February 28th. Citigroup upgraded shares of Gaotu Techedu from a “sell” rating to a “buy” rating and upped their price objective for the stock from $2.48 to $4.50 in a report on Wednesday, January 3rd.

Gaotu Techedu Trading Down 1.6 %

The stock’s 50-day simple moving average is $6.56 and its two-hundred day simple moving average is $4.28.

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Gaotu Techedu by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 5,637,189 shares of the company’s stock valued at $20,407,000 after buying an additional 151,418 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Gaotu Techedu by 2,548.9% during the fourth 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 last quarter. Barclays PLC raised its position in shares of Gaotu Techedu by 1,484.9% during the fourth quarter. Barclays PLC now owns 1,624,672 shares of the company’s stock valued at $5,882,000 after buying an additional 1,522,161 shares during the last quarter. Garden State Investment Advisory Services LLC acquired a new position in shares of Gaotu Techedu during the fourth quarter valued at about $1,062,000. Finally, HCEP Management Ltd acquired a new position in shares of Gaotu Techedu during the fourth quarter valued at about $3,620,000. 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.