Gaotu Techedu (NYSE:GOTU) Shares Gap Up – Time to Buy?

Gaotu Techedu Inc. (NYSE:GOTU) gapped up before the market opened on Friday . The stock had previously closed at $2.87, but opened at $2.95. Gaotu Techedu shares last traded at $2.75, with a volume of 565,004 shares traded.

Analysts Set New Price Targets

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

Gaotu Techedu Stock Performance

The firm’s 50 day moving average is $3.15 and its 200 day moving average is $4.26. The stock has a market cap of $708.63 million, a P/E ratio of -8.44 and a beta of 0.02.

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio purchased a new stake in shares of Gaotu Techedu during the third quarter worth about $38,000. SG Americas Securities LLC acquired a new position in Gaotu Techedu during the 2nd quarter valued at approximately $75,000. Virtu Financial LLC purchased a new position in shares of Gaotu Techedu in the first quarter worth $133,000. Barclays PLC lifted its stake in shares of Gaotu Techedu by 87.8% during the third quarter. Barclays PLC now owns 73,008 shares of the company’s stock worth $286,000 after buying an additional 34,133 shares during the period. Finally, Marshall Wace LLP grew its holdings in shares of Gaotu Techedu by 158.2% during the second quarter. Marshall Wace LLP now owns 77,562 shares of the company’s stock valued at $380,000 after buying an additional 47,522 shares during the last quarter. 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 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.