Gaotu Techedu Inc. (NYSE:GOTU – Get Free Report) shares gapped up before the market opened on Monday . The stock had previously closed at $3.70, but opened at $4.07. Gaotu Techedu shares last traded at $4.38, with a volume of 4,877,876 shares trading hands.
Wall Street Analysts Forecast Growth
Separately, Citigroup cut shares of Gaotu Techedu from a “buy” rating to a “sell” rating in a research note on Tuesday, August 27th.
Get Our Latest Analysis on Gaotu Techedu
Gaotu Techedu Stock Up 6.5 %
Gaotu Techedu (NYSE:GOTU – Get Free Report) last posted its quarterly earnings results on Tuesday, August 27th. The company reported ($0.23) EPS for the quarter. Gaotu Techedu had a negative return on equity of 20.26% and a negative net margin of 17.63%. The company had revenue of $138.95 million for the quarter.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of GOTU. Goldman Sachs Group Inc. lifted its holdings in shares of Gaotu Techedu by 2,548.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 6,998,033 shares of the company’s stock worth $25,333,000 after buying an additional 6,733,849 shares during the last quarter. Tiger Pacific Capital LP bought a new stake in Gaotu Techedu in the 4th quarter valued at $10,665,000. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Gaotu Techedu by 97.8% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,365,100 shares of the company’s stock worth $15,491,000 after purchasing an additional 1,169,300 shares during the period. HCEP Management Ltd bought a new position in shares of Gaotu Techedu during the 4th quarter worth about $3,620,000. Finally, BNP Paribas Financial Markets acquired a new position in shares of Gaotu Techedu during the first quarter valued at about $6,360,000. Hedge funds and other institutional investors own 48.42% of the company’s stock.
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.
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