Gaotu Techedu (NYSE:GOTU) Stock Price Crosses Above Fifty Day Moving Average – Here’s What Happened

Gaotu Techedu Inc. (NYSE:GOTU) crossed above its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $2.40 and traded as high as $2.45. Gaotu Techedu shares last traded at $2.4350, with a volume of 331,551 shares.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded Gaotu Techedu from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, October 30th. One research analyst has rated the stock with a Sell rating. According to MarketBeat, the stock currently has an average rating of “Sell”.

Gaotu Techedu Stock Up 2.3%

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 company has a market capitalization of $572.93 million, a price-to-earnings ratio of -11.59 and a beta of 0.81. The firm’s 50 day simple moving average is $2.40 and its 200-day simple moving average is $2.02.

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Headlands Technologies LLC acquired a new stake in Gaotu Techedu in the second quarter valued at about $35,000. Public Employees Retirement System of Ohio purchased a new stake in Gaotu Techedu in the 2nd quarter valued at approximately $53,000. Hsbc Holdings PLC increased its position in 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, Renaissance Technologies LLC increased its position in 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. 48.42% of the stock is owned by hedge funds and other institutional investors.

About Gaotu Techedu

Gaotu Techedu Inc. (NYSE: GOTU) is a China-based education technology company that provides online and offline learning services. The company offers courses and educational content through digital platforms, supported by teachers, instructional materials, and technology designed to serve students and adult learners. Gaotu’s offerings have included educational programs in areas such as language learning, professional and vocational development, examination preparation, and other academic subjects.