Gaotu Techedu (NYSE:GOTU) Shares Gap Up to $2.32

Gaotu Techedu Inc. (NYSE:GOTU – Get Rating)’s share price gapped up before the market opened on Friday . The stock had previously closed at $2.32, but opened at $2.45. Gaotu Techedu shares last traded at $2.48, with a volume of 248,057 shares.

Analyst Ratings Changes

Separately, CLSA upgraded shares of Gaotu Techedu from an “underperform” rating to an “outperform” rating in a report on Monday, February 13th.

Gaotu Techedu Trading Up 10.3 %

The stock’s fifty day moving average price is $3.45 and its two-hundred day moving average price is $3.13. The firm has a market capitalization of $658.00 million, a price-to-earnings ratio of 251.00 and a beta of -0.75.

Gaotu Techedu (NYSE:GOTU – Get Rating) last announced its quarterly earnings data on Tuesday, February 28th. The company reported $0.04 earnings per share for the quarter. The business had revenue of $91.29 million for the quarter. Gaotu Techedu had a net margin of 0.71% and a return on equity of 0.59%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Mercer Global Advisors Inc. ADV grew its position in shares of Gaotu Techedu by 108.3% in the 1st quarter. Mercer Global Advisors Inc. ADV now owns 32,332 shares of the company’s stock valued at $136,000 after buying an additional 16,809 shares during the last quarter. State Street Corp grew its position in Gaotu Techedu by 5.8% during the 1st quarter. State Street Corp now owns 391,016 shares of the company’s stock worth $1,650,000 after purchasing an additional 21,544 shares during the last quarter. Squarepoint Ops LLC purchased a new position in Gaotu Techedu during the 1st quarter worth $331,000. Schonfeld Strategic Advisors LLC purchased a new position in Gaotu Techedu during the 1st quarter worth $3,276,000. Finally, Two Sigma Investments LP grew its position in Gaotu Techedu by 10.0% during the 1st quarter. Two Sigma Investments LP now owns 648,277 shares of the company’s stock worth $2,736,000 after purchasing an additional 58,747 shares during the last quarter. 11.91% of the stock is owned by hedge funds and other institutional investors.

About Gaotu Techedu

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Gaotu Techedu, Inc is a technology-driven education company. The company was founded by Xiang Dong Chen in June 2014 and is headquartered in Beijing, China.