Gaotu Techedu (NYSE:GOTU) Shares Down 0.2% – What’s Next?

Gaotu Techedu Inc. (NYSE:GOTU) shares dropped 0.2% during mid-day trading on Monday. The stock traded as low as $2.39 and last traded at $2.4550. Approximately 582,274 shares were traded during mid-day trading, an increase of 14% from the average session volume of 510,582 shares. The stock had previously closed at $2.46.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded shares of Gaotu Techedu from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, July 23rd. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has an average rating of “Sell”.

Gaotu Techedu Price Performance

The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.15. The stock has a fifty day simple moving average of $1.93 and a two-hundred day simple moving average of $1.87. The company has a market cap of $588.83 million, a PE ratio of -11.69 and a beta of 0.73.

Gaotu Techedu (NYSE:GOTU) last issued its earnings results on Thursday, August 27th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.08). The business had revenue of $245.82 million for the quarter, compared to analysts’ expectations of $238.39 million. Gaotu Techedu had a negative return on equity of 26.89% and a negative net margin of 5.00%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Headlands Technologies LLC acquired a new stake in Gaotu Techedu in the second quarter valued at $35,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Gaotu Techedu during the 2nd quarter worth $53,000. Renaissance Technologies LLC grew its stake in shares of Gaotu Techedu by 2.2% during the 1st quarter. Renaissance Technologies LLC now owns 2,330,640 shares of the company’s stock worth $4,568,000 after purchasing an additional 50,362 shares during the period. Hsbc Holdings PLC grew its stake in shares of Gaotu Techedu by 27.7% during the 1st quarter. Hsbc Holdings PLC now owns 161,501 shares of the company’s stock worth $319,000 after purchasing an additional 35,044 shares during the period. Finally, SmartHarvest Portfolios LLC purchased a new position in shares of Gaotu Techedu in the 1st quarter valued at about $29,000. Institutional investors and hedge funds own 48.42% of the company’s stock.

Gaotu Techedu Company Profile

Gaotu Techedu Inc is a China-based education technology company that provides learning services and products through online and offline channels. The company offers educational content, tutoring programs, and technology-enabled learning tools designed to support students and adult learners.

Its offerings have included courses for primary and secondary school students, foreign-language learning, professional and vocational development, and personal-interest education. Gaotu also develops educational materials and intelligent learning products intended to complement its course services.

Founded in 2014 as GSX Techedu Inc, the company later adopted the name Gaotu Techedu Inc and trades in the United States under the symbol GOTU.