Gaotu Techedu (NYSE:GOTU) Trading Down 9.4%

Gaotu Techedu Inc. (NYSE:GOTU)’s stock price traded down 9.4% on Friday . The stock traded as low as $2.79 and last traded at $2.80. 50,283 shares were traded during mid-day trading, a decline of 100% from the average session volume of 11,453,088 shares. The stock had previously closed at $3.09.

A number of analysts have recently commented on GOTU shares. The Goldman Sachs Group reissued a “sell” rating and set a $2.60 price target (down from $20.00) on shares of Gaotu Techedu in a research note on Monday, July 26th. JPMorgan Chase & Co. lowered Gaotu Techedu from a “neutral” rating to an “underweight” rating and cut their price target for the company from $37.00 to $3.50 in a research note on Friday, July 23rd. CLSA lowered Gaotu Techedu from an “underperform” rating to a “sell” rating and cut their price target for the company from $19.00 to $2.70 in a research note on Monday, July 26th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $2.50 price target on shares of Gaotu Techedu in a research note on Tuesday, July 27th. Finally, Citigroup lowered Gaotu Techedu from a “buy” rating to a “sell” rating in a research note on Friday, June 11th. Five research analysts have rated the stock with a sell rating and two have given a hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Sell” and an average target price of $8.80.

The company has a market cap of $790.18 million, a P/E ratio of -1.72 and a beta of -1.29. The company has a 50-day moving average price of $3.49.

About Gaotu Techedu (NYSE:GOTU)

Gaotu Techedu, Inc is a technology-driven education company. Its core expertise is in online K-12 courses, and online K-12 large-class after-school tutoring service provider in China. The company’s K-12 courses cover all primary and secondary grades. It also offers foreign language, professional and interest courses.

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