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%
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
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.
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