Gaotu Techedu (NYSE:GOTU) Shares Gap Up to $2.79

Gaotu Techedu Inc. (NYSE:GOTU)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $2.79, but opened at $3.00. Gaotu Techedu shares last traded at $3.03, with a volume of 730,757 shares changing hands.

Wall Street Analyst Weigh In

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

Gaotu Techedu Price Performance

The company has a fifty day moving average of $3.89 and a 200-day moving average of $5.46. The firm has a market capitalization of $790.78 million, a PE ratio of -36.88 and a beta of -0.02.

Gaotu Techedu (NYSE:GOTU) last posted its quarterly earnings results on Tuesday, August 27th. The company reported ($0.23) earnings per share for the quarter. The firm had revenue of $138.95 million for the quarter. Gaotu Techedu had a negative return on equity of 20.26% and a negative net margin of 17.63%.

Institutional Investors Weigh In On Gaotu Techedu

Large investors have recently bought and sold shares of the business. Tiger Pacific Capital LP acquired a new stake in shares of Gaotu Techedu in the fourth quarter worth about $10,665,000. HCEP Management Ltd bought a new stake in shares of Gaotu Techedu in the 4th quarter worth approximately $3,620,000. Garden State Investment Advisory Services LLC acquired a new stake in shares of Gaotu Techedu during the 4th quarter valued at about $1,062,000. Goldman Sachs Group Inc. increased its stake in Gaotu Techedu by 2,548.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 6,998,033 shares of the company’s stock valued at $25,333,000 after acquiring an additional 6,733,849 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in Gaotu Techedu in the first quarter worth about $99,000. 48.42% of the stock is currently owned by institutional investors.

About Gaotu Techedu

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.