Gaotu Techedu (NYSE:GOTU) Shares Up 8.4% – Here’s Why

Gaotu Techedu Inc. (NYSE:GOTU) shares were up 8.4% on Wednesday . The company traded as high as $2.73 and last traded at $2.71. Approximately 574,523 shares changed hands during trading, a decline of 83% from the average daily volume of 3,346,594 shares. The stock had previously closed at $2.50.

Analysts Set New Price Targets

Separately, Citigroup lowered shares of Gaotu Techedu from a “buy” rating to a “sell” rating in a report on Tuesday, August 27th.

Gaotu Techedu Trading Up 12.4 %

The stock has a market capitalization of $729.39 million, a PE ratio of -7.97 and a beta of 0.02. The company’s 50 day simple moving average is $3.15 and its 200 day simple moving average is $4.30.

Gaotu Techedu (NYSE:GOTU) last posted its earnings results on Tuesday, August 27th. The company reported ($0.23) EPS for the quarter. The company had revenue of $138.95 million for the quarter. Gaotu Techedu had a negative net margin of 17.63% and a negative return on equity of 20.26%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of GOTU. Public Employees Retirement System of Ohio acquired a new position in shares of Gaotu Techedu in the third quarter valued at $38,000. SG Americas Securities LLC acquired a new position in Gaotu Techedu during the second quarter worth $75,000. Virtu Financial LLC bought a new position in shares of Gaotu Techedu during the first quarter valued at $133,000. Barclays PLC boosted its stake in shares of Gaotu Techedu by 87.8% in the 3rd quarter. Barclays PLC now owns 73,008 shares of the company’s stock valued at $286,000 after purchasing an additional 34,133 shares in the last quarter. Finally, Garden State Investment Advisory Services LLC bought a new stake in shares of Gaotu Techedu in the 3rd quarter worth about $337,000. 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 learning services, educational content, and digitalized learning products in the People's Republic of China. The company offers traditional online academic subject tutoring services that covers academic subjects, such as mathematics, English, Chinese, physics, chemistry, biology, history, geography, and political science for students; non-academic tutoring services; personal interest courses comprising chess learning, family relationships and education, humanities, and science courses; and professional courses primarily for college students and adults preparing for professional qualification exams, such as teacher's qualification, Chartered Financial Analyst designation, Certified Public Accountant designation, and other exams.