Gaotu Techedu (NYSE:GOTU) Stock Price Down 5.8%

Gaotu Techedu Inc. (NYSE:GOTU)’s stock price was down 5.8% during trading on Wednesday . The stock traded as low as $6.69 and last traded at $6.70. Approximately 2,023,428 shares changed hands during trading, a decline of 58% from the average daily volume of 4,872,589 shares. The stock had previously closed at $7.11.

Analyst Upgrades and Downgrades

Separately, CLSA upgraded shares of Gaotu Techedu from an “underperform” rating to an “outperform” rating and set a $8.65 target price for the company in a research note on Wednesday, February 28th.

Gaotu Techedu Trading Down 1.8 %

The company’s fifty day moving average price is $6.94 and its two-hundred day moving average price is $5.07. The firm has a market cap of $1.61 billion, a P/E ratio of -79.31 and a beta of 0.07.

Gaotu Techedu (NYSE:GOTU) last posted its earnings results on Tuesday, February 27th. The company reported ($0.07) earnings per share for the quarter. Gaotu Techedu had a negative return on equity of 4.19% and a negative net margin of 4.22%. The firm had revenue of $107.19 million during the quarter.

Institutional Investors Weigh In On Gaotu Techedu

Hedge funds have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC grew its holdings in Gaotu Techedu by 16.4% during the 3rd quarter. Acadian Asset Management LLC now owns 4,445,239 shares of the company’s stock worth $12,248,000 after acquiring an additional 625,976 shares during the last quarter. Harvest Fund Management Co. Ltd lifted its position in Gaotu Techedu by 20.4% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 5,373,915 shares of the company’s stock valued at $19,507,000 after purchasing an additional 909,354 shares during the period. QRG Capital Management Inc. acquired a new position in Gaotu Techedu during the 3rd quarter valued at about $76,000. Yong Rong HK Asset Management Ltd acquired a new position in Gaotu Techedu during the 4th quarter valued at about $11,487,000. Finally, California Public Employees Retirement System lifted its position in Gaotu Techedu by 21.5% during the 3rd quarter. California Public Employees Retirement System now owns 279,490 shares of the company’s stock valued at $771,000 after purchasing an additional 49,540 shares during the period. 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.