Gaotu Techedu (NYSE:GOTU) Stock Price Up 3.7% – What’s Next?

Gaotu Techedu Inc. (NYSE:GOTU) was up 3.7% during mid-day trading on Wednesday. The stock traded as high as $2.66 and last traded at $2.6750. Approximately 165,426 shares were traded during mid-day trading, a decline of 62% from the average session volume of 438,334 shares. The stock had previously closed at $2.58.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of Gaotu Techedu from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Gaotu Techedu currently has an average rating of “Sell”.

Gaotu Techedu Stock Performance

The firm has a market cap of $672.78 million, a PE ratio of -13.36 and a beta of 0.73. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.15. The company has a 50-day simple moving average of $2.04 and a two-hundred day simple moving average of $1.89.

Gaotu Techedu (NYSE:GOTU) last released its earnings results on Thursday, August 27th. The company reported ($0.09) 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 the consensus estimate 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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Headlands Technologies LLC bought a new position in shares of Gaotu Techedu during the 2nd quarter valued at approximately $35,000. Public Employees Retirement System of Ohio bought a new stake in shares of Gaotu Techedu in the 2nd quarter worth approximately $53,000. Renaissance Technologies LLC lifted its stake in Gaotu Techedu by 2.2% in the first quarter. Renaissance Technologies LLC now owns 2,330,640 shares of the company’s stock valued at $4,568,000 after purchasing an additional 50,362 shares during the last quarter. Hsbc Holdings PLC lifted its stake in Gaotu Techedu by 27.7% in the first quarter. Hsbc Holdings PLC now owns 161,501 shares of the company’s stock valued at $319,000 after purchasing an additional 35,044 shares during the last quarter. Finally, SmartHarvest Portfolios LLC bought a new position in Gaotu Techedu during the first quarter valued at $29,000. 48.42% of the stock is currently owned by hedge funds and other institutional investors.

Gaotu Techedu Company Profile

Gaotu Techedu Inc (NYSE: GOTU) is a China-based education technology company that provides online and technology-enabled learning services. Its offerings have included courses and educational content for children and students, as well as programs focused on adult education, professional development and foreign-language learning.

The company also develops digital learning products and services designed to support students, teachers and families, including online instruction, educational applications and related learning tools.