Gaotu Techedu (NYSE:GOTU) Stock Price Down 4.7%

Gaotu Techedu Inc. (NYSE:GOTU) fell 4.7% during mid-day trading on Tuesday . The stock traded as low as $6.00 and last traded at $6.03. 507,298 shares changed hands during trading, a decline of 91% from the average session volume of 5,538,945 shares. The stock had previously closed at $6.33.

Analysts Set New Price Targets

Several research firms recently issued reports on GOTU. CLSA raised shares of Gaotu Techedu from an “underperform” rating to an “outperform” rating and set a $8.65 price target for the company in a report on Wednesday, February 28th. Citigroup raised shares of Gaotu Techedu from a “sell” rating to a “buy” rating and increased their target price for the company from $2.48 to $4.50 in a report on Wednesday, January 3rd.

Gaotu Techedu Stock Down 7.0 %

The company has a market capitalization of $1.54 billion, a PE ratio of -599.40 and a beta of 0.05. The stock’s fifty day simple moving average is $6.47 and its 200-day simple moving average is $4.23.

Gaotu Techedu (NYSE:GOTU) last issued its earnings results on Tuesday, February 27th. The company reported ($0.07) earnings per share (EPS) for the quarter. Gaotu Techedu had a negative net margin of 0.10% and a negative return on equity of 0.10%. The company had revenue of $107.19 million during the quarter.

Institutional Trading of Gaotu Techedu

Large investors have recently modified their holdings of the business. Acadian Asset Management LLC grew its position in shares of Gaotu Techedu by 16.4% in the third quarter. Acadian Asset Management LLC now owns 4,445,239 shares of the company’s stock valued at $12,248,000 after purchasing an additional 625,976 shares during the last quarter. QRG Capital Management Inc. acquired a new stake in shares of Gaotu Techedu in the third quarter valued at approximately $76,000. Harvest Fund Management Co. Ltd grew its position in shares of Gaotu Techedu by 98.4% in the third quarter. Harvest Fund Management Co. Ltd now owns 4,464,561 shares of the company’s stock valued at $12,278,000 after purchasing an additional 2,214,765 shares during the last quarter. California Public Employees Retirement System grew its position in shares of Gaotu Techedu by 21.5% in the third 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 last quarter. Finally, Barclays PLC grew its position in shares of Gaotu Techedu by 97.1% in the third quarter. Barclays PLC now owns 102,511 shares of the company’s stock valued at $283,000 after purchasing an additional 50,511 shares during the last quarter. 48.42% of the stock is currently owned by institutional investors and hedge funds.

About Gaotu Techedu

Gaotu Techedu Inc, a technology-driven education company, provides online K-12 after-school tutoring services in the People's Republic of China. The company provides foreign language courses comprising English and Japanese, as well as test preparation courses for students taking language certification exams; and professional courses primarily for college students and adults preparing for professional qualification exams, such teacher's qualification, Chartered Financial Analyst designation, Certified Public Accountant designation, Certified Tax Agent designation, securities qualification exams, and other exams.