Gaotu Techedu Inc. (NYSE:GOTU – Get Free Report) shares were up 6.4% during mid-day trading on Thursday . The stock traded as high as $6.88 and last traded at $6.86. Approximately 2,041,593 shares were traded during mid-day trading, a decline of 62% from the average daily volume of 5,379,380 shares. The stock had previously closed at $6.45.
Wall Street Analysts Forecast Growth
GOTU has been the subject of several recent analyst reports. CLSA raised shares of 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 raised shares of Gaotu Techedu from a “sell” rating to a “buy” rating and boosted their price target for the stock from $2.48 to $4.50 in a report on Wednesday, January 3rd.
View Our Latest Analysis on GOTU
Gaotu Techedu Price Performance
Gaotu Techedu (NYSE:GOTU – Get Free Report) last released 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 business had revenue of $107.19 million for the quarter.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Gaotu Techedu during the 3rd quarter valued at about $29,000. Tower Research Capital LLC TRC boosted its position in shares of Gaotu Techedu by 543.5% during 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 during the last quarter. QRG Capital Management Inc. acquired a new position in shares of Gaotu Techedu during the 3rd quarter valued at about $76,000. Jump Financial LLC acquired a new position in shares of Gaotu Techedu during the 4th quarter valued at about $313,000. Finally, Barclays PLC boosted its position in shares of Gaotu Techedu by 97.1% during the 3rd quarter. Barclays PLC now owns 102,511 shares of the company’s stock valued at $283,000 after acquiring an additional 50,511 shares during the last quarter. Institutional investors and hedge funds own 48.42% of the company’s stock.
About Gaotu Techedu
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.
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