Gaotu Techedu Inc. (NYSE:GOTU – Get Free Report)’s stock price shot up 9.5% during trading on Thursday . The stock traded as high as $6.52 and last traded at $6.43. 2,577,665 shares changed hands during mid-day trading, a decline of 53% from the average session volume of 5,499,900 shares. The stock had previously closed at $5.87.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on GOTU shares. CLSA raised shares of Gaotu Techedu from an “underperform” rating to an “outperform” rating and set a $8.65 target price on the stock in a report on Wednesday, February 28th. Citigroup raised shares of Gaotu Techedu from a “sell” rating to a “buy” rating and increased their price target for the company from $2.48 to $4.50 in a research note on Wednesday, January 3rd.
Read Our Latest Report on GOTU
Gaotu Techedu Stock Performance
Gaotu Techedu (NYSE:GOTU – Get Free Report) last posted its earnings results on Tuesday, February 27th. The company reported ($0.07) earnings per share (EPS) for the quarter. The company 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%.
Hedge Funds Weigh In On Gaotu Techedu
Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Gaotu Techedu by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 5,637,189 shares of the company’s stock worth $20,407,000 after acquiring an additional 151,418 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Gaotu Techedu by 2,548.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 6,998,033 shares of the company’s stock valued at $25,333,000 after purchasing an additional 6,733,849 shares in the last quarter. Barclays PLC grew its position in shares of Gaotu Techedu by 1,484.9% in the 4th quarter. Barclays PLC now owns 1,624,672 shares of the company’s stock valued at $5,882,000 after purchasing an additional 1,522,161 shares during the period. Garden State Investment Advisory Services LLC acquired a new position in shares of Gaotu Techedu in the 4th quarter valued at approximately $1,062,000. Finally, HCEP Management Ltd bought a new stake in Gaotu Techedu during the 4th quarter worth approximately $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.
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