Gaotu Techedu (NYSE:GOTU) Stock Price Up 8.4% – What’s Next?

Gaotu Techedu Inc. (NYSE:GOTU)’s share price shot up 8.4% during trading on Wednesday . The company traded as high as $2.73 and last traded at $2.71. 574,523 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 3,346,594 shares. The stock had previously closed at $2.50.

Analysts Set New Price Targets

Separately, Citigroup downgraded Gaotu Techedu from a “buy” rating to a “sell” rating in a research note on Tuesday, August 27th.

Gaotu Techedu Stock Performance

The company’s 50 day moving average is $3.15 and its 200 day moving average is $4.26.

Gaotu Techedu (NYSE:GOTU) last announced its quarterly earnings data on Tuesday, August 27th. The company reported ($0.23) EPS for the quarter. Gaotu Techedu had a negative net margin of 17.63% and a negative return on equity of 20.26%. The company had revenue of $138.95 million for the quarter.

Institutional Trading of Gaotu Techedu

Hedge funds have recently modified their holdings of the company. Public Employees Retirement System of Ohio acquired a new position in shares of Gaotu Techedu in the 3rd quarter valued at $38,000. SG Americas Securities LLC bought a new position in Gaotu Techedu during the second quarter worth about $75,000. Virtu Financial LLC acquired a new stake in Gaotu Techedu during the first quarter valued at approximately $133,000. Pinpoint Asset Management Ltd boosted its holdings in Gaotu Techedu by 14.3% during the third quarter. Pinpoint Asset Management Ltd now owns 229,445 shares of the company’s stock valued at $899,000 after purchasing an additional 28,776 shares in the last quarter. Finally, Barclays PLC grew its stake in shares of Gaotu Techedu by 87.8% in the 3rd quarter. Barclays PLC now owns 73,008 shares of the company’s stock valued at $286,000 after purchasing an additional 34,133 shares during the period. Institutional investors own 48.42% of the company’s stock.

About Gaotu Techedu

Gaotu Techedu Inc, a technology-driven education company, provides learning services, educational content, and digitalized learning products in the People's Republic of China. The company offers traditional online academic subject tutoring services that covers academic subjects, such as mathematics, English, Chinese, physics, chemistry, biology, history, geography, and political science for students; non-academic tutoring services; personal interest courses comprising chess learning, family relationships and education, humanities, and science courses; and professional courses primarily for college students and adults preparing for professional qualification exams, such as teacher's qualification, Chartered Financial Analyst designation, Certified Public Accountant designation, and other exams.