Gaotu Techedu (NYSE:GOTU) Trading 6.4% Higher

Gaotu Techedu Inc. (NYSE:GOTU) shares shot up 6.4% during mid-day trading on Thursday . The company traded as high as $6.88 and last traded at $6.86. 2,041,593 shares traded hands during mid-day trading, a decline of 62% from the average session volume of 5,379,380 shares. The stock had previously closed at $6.45.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on GOTU. CLSA upgraded Gaotu Techedu from an “underperform” rating to an “outperform” rating and set a $8.65 price objective for the company in a report on Wednesday, February 28th. Citigroup upgraded Gaotu Techedu from a “sell” rating to a “buy” rating and upped their price objective for the stock from $2.48 to $4.50 in a report on Wednesday, January 3rd.

Gaotu Techedu Stock Down 2.6 %

The business has a fifty day moving average price of $6.76 and a 200-day moving average price of $4.44.

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

Institutional Investors Weigh In On Gaotu Techedu

Several institutional investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. boosted its holdings in Gaotu Techedu by 2,548.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 6,998,033 shares of the company’s stock valued at $25,333,000 after acquiring an additional 6,733,849 shares during the period. Harvest Fund Management Co. Ltd lifted its holdings in Gaotu Techedu by 20.4% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 5,373,915 shares of the company’s stock worth $19,507,000 after buying an additional 909,354 shares during the period. Acadian Asset Management LLC lifted its holdings in Gaotu Techedu by 16.4% in the 3rd quarter. Acadian Asset Management LLC now owns 4,445,239 shares of the company’s stock worth $12,248,000 after buying an additional 625,976 shares during the period. Yong Rong HK Asset Management Ltd purchased a new stake in Gaotu Techedu in the 4th quarter worth approximately $11,487,000. Finally, Tiger Pacific Capital LP purchased a new stake in Gaotu Techedu in the 4th quarter worth approximately $10,665,000. 48.42% of the stock is currently owned by hedge funds and other 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.