Gaotu Techedu (NYSE:GOTU) Shares Climb 3.7% – Still a Buy?

Gaotu Techedu Inc. (NYSE:GOTU – Get Free Report)’s share price shot up 3.7% during mid-day trading on Wednesday. The stock traded as high as $2.66 and last traded at $2.6750. 165,426 shares were traded during trading, a decline of 62% from the average session volume of 438,334 shares. The stock had previously closed at $2.58.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of Gaotu Techedu from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Gaotu Techedu has an average rating of “Sell”.

Read Our Latest Stock Analysis on GOTU

Gaotu Techedu Stock Up 8.7%

The firm’s 50 day moving average price is $2.04 and its two-hundred day moving average price is $1.89. The company has a market cap of $672.78 million, a P/E ratio of -13.36 and a beta of 0.73. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.85 and a current ratio of 0.86.

Gaotu Techedu (NYSE:GOTU – Get Free Report) last announced its quarterly earnings data on Thursday, August 27th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.08). Gaotu Techedu had a negative net margin of 5.00% and a negative return on equity of 26.89%. The firm had revenue of $245.82 million during the quarter, compared to analyst estimates of $238.39 million.

Hedge Funds Weigh In On Gaotu Techedu

A number of hedge funds have recently added to or reduced their stakes in GOTU. Renaissance Technologies LLC increased its holdings in Gaotu Techedu by 2.2% during the 1st quarter. Renaissance Technologies LLC now owns 2,330,640 shares of the company’s stock worth $4,568,000 after purchasing an additional 50,362 shares in the last quarter. Hsbc Holdings PLC boosted its position in shares of Gaotu Techedu by 27.7% during the first quarter. Hsbc Holdings PLC now owns 161,501 shares of the company’s stock valued at $319,000 after buying an additional 35,044 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Gaotu Techedu during the second quarter valued at approximately $53,000. Headlands Technologies LLC bought a new stake in Gaotu Techedu during the second quarter worth $35,000. Finally, SmartHarvest Portfolios LLC purchased a new stake in Gaotu Techedu in the 1st quarter valued at $29,000. Institutional investors and hedge funds own 48.42% of the company’s stock.

Gaotu Techedu Company Profile

(Get Free Report)

Gaotu Techedu Inc (NYSE: GOTU) is a China-based education technology company that provides online and technology-enabled learning services. Its offerings have included courses and educational content for children and students, as well as programs focused on adult education, professional development and foreign-language learning.

The company also develops digital learning products and services designed to support students, teachers and families, including online instruction, educational applications and related learning tools.

See Also

Receive News & Ratings for Gaotu Techedu Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gaotu Techedu and related companies with MarketBeat.com's FREE daily email newsletter.