Gaotu Techedu (NYSE:GOTU) Shares Gap Down to $6.38

Shares of Gaotu Techedu Inc. (NYSE:GOTU) gapped down before the market opened on Friday . The stock had previously closed at $6.38, but opened at $6.18. Gaotu Techedu shares last traded at $6.26, with a volume of 132,633 shares.

Analyst Upgrades and Downgrades

GOTU has been the topic of several analyst reports. Citigroup upgraded Gaotu Techedu from a “sell” rating to a “buy” rating and raised their price objective for the stock from $2.48 to $4.50 in a report on Wednesday, January 3rd. CLSA upgraded Gaotu Techedu from an “underperform” rating to an “outperform” rating and set a $8.65 price objective on the stock in a report on Wednesday, February 28th.

Gaotu Techedu Price Performance

The firm has a 50-day moving average of $6.56 and a two-hundred day moving average of $4.28.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of Gaotu Techedu by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 5,637,189 shares of the company’s stock worth $20,407,000 after acquiring an additional 151,418 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Gaotu Techedu by 2,548.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 6,998,033 shares of the company’s stock worth $25,333,000 after acquiring an additional 6,733,849 shares during the last quarter. Barclays PLC increased its position in shares of Gaotu Techedu by 1,484.9% during the fourth quarter. Barclays PLC now owns 1,624,672 shares of the company’s stock worth $5,882,000 after acquiring an additional 1,522,161 shares during the last quarter. Garden State Investment Advisory Services LLC purchased a new stake in shares of Gaotu Techedu during the fourth quarter worth about $1,062,000. Finally, HCEP Management Ltd acquired a new position in Gaotu Techedu in the fourth quarter worth about $3,620,000. 48.42% of the stock is owned by hedge funds and other institutional investors.

Gaotu Techedu Company Profile

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.