Gaotu Techedu (NYSE:GOTU) Trading 7.5% Higher

Gaotu Techedu Inc. (NYSE:GOTU - Get Free Report)'s share price was up 7.5% during mid-day trading on Friday . The stock traded as high as $4.05 and last traded at $3.99. Approximately 2,177,820 shares traded hands during trading, a decline of 39% from the average daily volume of 3,546,101 shares. The stock had previously closed at $3.71.

Analyst Upgrades and Downgrades

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

Gaotu Techedu Stock Performance

The firm has a 50 day moving average price of $3.77 and a 200-day moving average price of $5.38. The company has a market cap of $963.00 million, a P/E ratio of -46.38 and a beta of -0.02.

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

Institutional Trading of Gaotu Techedu

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. grew 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 worth $25,333,000 after purchasing an additional 6,733,849 shares in the last quarter. Tiger Pacific Capital LP acquired a new position in shares of Gaotu Techedu in the 4th quarter valued at $10,665,000. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Gaotu Techedu by 97.8% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,365,100 shares of the company's stock worth $15,491,000 after acquiring an additional 1,169,300 shares during the period. HCEP Management Ltd acquired a new stake in shares of Gaotu Techedu during the 4th quarter valued at about $3,620,000. Finally, BNP Paribas Financial Markets bought a new stake in Gaotu Techedu in the first quarter valued at about $6,360,000. 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 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.