Gaotu Techedu (NYSE:GOTU) Shares Gap Up - Still a Buy?

Gaotu Techedu Inc. (NYSE:GOTU - Get Free Report)'s share price gapped up before the market opened on Monday . The stock had previously closed at $3.02, but opened at $3.14. Gaotu Techedu shares last traded at $3.15, with a volume of 498,330 shares changing hands.

Analysts Set New Price Targets

Separately, Citigroup lowered shares of Gaotu Techedu from a "buy" rating to a "sell" rating in a research report on Tuesday, August 27th.

Gaotu Techedu Stock Up 5.5 %

The business has a 50 day moving average of $3.34 and a 200 day moving average of $4.86. The company has a market capitalization of $826.73 million, a P/E ratio of -9.44 and a beta of -0.01.

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

Institutional Trading of Gaotu Techedu

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Gaotu Techedu in the first quarter valued at $99,000. BNP Paribas Financial Markets bought a new stake in Gaotu Techedu in the first quarter worth about $6,360,000. Headlands Technologies LLC purchased a new position in shares of Gaotu Techedu during the first quarter valued at approximately $63,000. Seven Eight Capital LP bought a new position in shares of Gaotu Techedu during the first quarter valued at approximately $957,000. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Gaotu Techedu by 97.8% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,365,100 shares of the company's stock worth $15,491,000 after buying an additional 1,169,300 shares during the period. Hedge funds and other 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.