Gaotu Techedu (NYSE:GOTU) Trading 6.4% Higher

Gaotu Techedu Inc. (NYSE:GOTU)’s stock price shot up 6.4% during mid-day trading on Thursday . The company traded as high as $6.88 and last traded at $6.86. 2,041,593 shares traded hands during trading, a decline of 62% from the average session volume of 5,379,380 shares. The stock had previously closed at $6.45.

Analysts Set New Price Targets

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

Gaotu Techedu Stock Down 2.6 %

The business has a fifty day simple moving average of $6.76 and a two-hundred day simple moving average of $4.44.

Gaotu Techedu (NYSE:GOTU) last issued 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 company had revenue of $107.19 million during the quarter.

Institutional Trading of Gaotu Techedu

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Gaotu Techedu during the 3rd quarter worth about $29,000. Tower Research Capital LLC TRC grew its position in Gaotu Techedu by 543.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 14,988 shares of the company’s stock valued at $54,000 after acquiring an additional 12,659 shares in the last quarter. QRG Capital Management Inc. acquired a new position in Gaotu Techedu in the 3rd quarter valued at about $76,000. Barclays PLC boosted its stake 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 buying an additional 50,511 shares during the period. Finally, Jump Financial LLC purchased a new position in shares of Gaotu Techedu in the 4th quarter valued at about $313,000. 48.42% of the stock is owned by institutional investors and hedge funds.

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.