Gaotu Techedu (NYSE:GOTU) Trading Up 8%

Gaotu Techedu Inc. (NYSE:GOTU)’s share price was up 8% on Thursday . The stock traded as high as $2.87 and last traded at $2.84. Approximately 977,412 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 3,542,209 shares. The stock had previously closed at $2.63.

Analysts Set New Price Targets

Separately, Citigroup lowered Gaotu Techedu from a “buy” rating to a “sell” rating in a research note on Tuesday, August 27th.

Gaotu Techedu Price Performance

The business has a fifty day moving average of $4.04 and a 200 day moving average of $5.57. The stock has a market capitalization of $744.27 million, a price-to-earnings ratio of -36.50 and a beta of -0.02.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets purchased a new stake in shares of Gaotu Techedu during the first quarter worth $6,360,000. Tiger Pacific Capital LP purchased a new stake in shares of Gaotu Techedu during the fourth quarter worth $10,665,000. Seven Eight Capital LP purchased a new stake in shares of Gaotu Techedu during the first quarter worth $957,000. HCEP Management Ltd purchased a new position in Gaotu Techedu in the fourth quarter valued at $3,620,000. Finally, Headlands Technologies LLC purchased a new position in Gaotu Techedu in the first quarter valued at $63,000. 48.42% of the stock is currently owned by institutional investors and hedge funds.

Gaotu Techedu Company Profile

Gaotu Techedu Inc, a technology-driven education company, provides learning services, educational content, and digitalized learning products in the People's Republic of China. The company offers traditional online academic subject tutoring services that covers academic subjects, such as mathematics, English, Chinese, physics, chemistry, biology, history, geography, and political science for students; non-academic tutoring services; personal interest courses comprising chess learning, family relationships and education, humanities, and science courses; and professional courses primarily for college students and adults preparing for professional qualification exams, such as teacher's qualification, Chartered Financial Analyst designation, Certified Public Accountant designation, and other exams.