Gaotu Techedu (NYSE:GOTU) Shares Down 5.7%

Gaotu Techedu Inc. (NYSE:GOTU)’s stock price fell 5.7% on Wednesday . The company traded as low as $6.56 and last traded at $6.58. 990,345 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 5,370,552 shares. The stock had previously closed at $6.98.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GOTU. Citigroup raised shares of Gaotu Techedu from a “sell” rating to a “buy” rating and boosted their price target for the stock from $2.48 to $4.50 in a report on Wednesday, January 3rd. CLSA raised shares of Gaotu Techedu from an “underperform” rating to an “outperform” rating and set a $8.65 price target on the stock in a report on Wednesday, February 28th.

Gaotu Techedu Price Performance

The firm has a market capitalization of $1.69 billion, a PE ratio of -643.36 and a beta of 0.05. The company’s fifty day simple moving average is $6.66 and its 200 day simple moving average is $4.38.

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

Institutional Inflows and Outflows

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

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.