Gaotu Techedu Inc. (NYSE:GOTU – Get Free Report)’s share price traded up 9.2% on Tuesday . The company traded as high as $2.0950 and last traded at $2.0850. Approximately 309,793 shares changed hands during mid-day trading, a decline of 26% from the average daily volume of 421,171 shares. The stock had previously closed at $1.91.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings cut Gaotu Techedu from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, July 23rd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Gaotu Techedu has a consensus rating of “Sell”.
Read Our Latest Stock Report on Gaotu Techedu
Gaotu Techedu Trading Up 10.7%
Gaotu Techedu (NYSE:GOTU – Get Free Report) last issued its earnings results on Thursday, August 27th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.08). Gaotu Techedu had a negative return on equity of 26.89% and a negative net margin of 5.00%.The company had revenue of $245.82 million for the quarter, compared to analyst estimates of $238.39 million.
Insider Buying and Selling at Gaotu Techedu
In other news, CEO Xiangdong Chen acquired 167,051 shares of the company’s stock in a transaction that occurred on Thursday, June 18th. The stock was purchased at an average cost of $2.50 per share, with a total value of $417,627.50. Following the purchase, the chief executive officer directly owned 8,014,529 shares of the company’s stock, valued at approximately $20,036,322.50. This trade represents a 2.13% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. In the last 90 days, insiders purchased 500,000 shares of company stock valued at $1,175,032. Corporate insiders own 44.90% of the company’s stock.
Hedge Funds Weigh In On Gaotu Techedu
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Gaotu Techedu by 1.2% in the third quarter. Vanguard Group Inc. now owns 5,192,148 shares of the company’s stock valued at $16,926,000 after purchasing an additional 63,891 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Gaotu Techedu by 2.2% in the 1st quarter. Renaissance Technologies LLC now owns 2,330,640 shares of the company’s stock worth $4,568,000 after buying an additional 50,362 shares in the last quarter. Millennium Management LLC grew its stake in Gaotu Techedu by 602.0% in the 1st quarter. Millennium Management LLC now owns 1,996,144 shares of the company’s stock valued at $6,487,000 after acquiring an additional 1,711,774 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Gaotu Techedu by 157.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,568,492 shares of the company’s stock valued at $5,662,000 after acquiring an additional 958,782 shares during the last quarter. Finally, Marshall Wace LLP increased its holdings in Gaotu Techedu by 3,628.9% during the 2nd quarter. Marshall Wace LLP now owns 788,541 shares of the company’s stock valued at $2,847,000 after acquiring an additional 767,394 shares in the last quarter. 48.42% of the stock is owned by institutional investors and hedge funds.
Gaotu Techedu Company Profile
Gaotu Techedu Inc (NYSE:GOTU), formerly known as GSX Techedu, is a Beijing-based provider of online education services in China. Since its founding in 2014, the company has built a technology-driven platform that delivers live, interactive tutoring sessions to students primarily in the K-12 segment. Gaotu Techedu’s rebranding in 2021 underscored its commitment to leveraging cutting-edge digital tools to expand access to quality instruction across core academic subjects.
The company’s main offerings include small-group and one-on-one classes in mathematics, Chinese, English, physics and chemistry, as well as targeted test preparation for high-stakes national and local examinations.
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