Gaotu Techedu (NYSE:GOTU) Shares Down 5.7%

Gaotu Techedu Inc. (NYSE:GOTU) shares were down 5.7% on Wednesday . The stock traded as low as $6.56 and last traded at $6.58. Approximately 990,345 shares traded 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.

Analysts Set New Price Targets

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

Gaotu Techedu Trading Down 7.2 %

The company’s 50 day moving average price is $6.66 and its 200-day moving average price is $4.38. The company has a market capitalization of $1.69 billion, a PE ratio of -643.36 and a beta of 0.05.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC boosted its holdings in shares of 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 acquiring an additional 625,976 shares in the last quarter. QRG Capital Management Inc. bought a new stake in Gaotu Techedu during the third quarter worth approximately $76,000. Harvest Fund Management Co. Ltd boosted its holdings in Gaotu Techedu by 98.4% during the third quarter. Harvest Fund Management Co. Ltd now owns 4,464,561 shares of the company’s stock worth $12,278,000 after buying an additional 2,214,765 shares in the last quarter. California Public Employees Retirement System boosted its holdings in Gaotu Techedu by 21.5% during the third quarter. California Public Employees Retirement System now owns 279,490 shares of the company’s stock worth $771,000 after buying an additional 49,540 shares in the last quarter. Finally, Barclays PLC boosted its holdings in Gaotu Techedu by 97.1% during the third quarter. Barclays PLC now owns 102,511 shares of the company’s stock worth $283,000 after buying an additional 50,511 shares in the last quarter. 48.42% of the stock is currently owned by institutional investors.

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.