Shares of Gaotu Techedu Inc. (NYSE:GOTU – Get Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $3.74, but opened at $3.60. Gaotu Techedu shares last traded at $3.61, with a volume of 735,960 shares changing hands.
Analyst Upgrades and Downgrades
Separately, Citigroup cut shares of Gaotu Techedu from a “buy” rating to a “sell” rating in a report on Tuesday, August 27th.
Get Our Latest Stock Report on GOTU
Gaotu Techedu Stock Performance
Gaotu Techedu (NYSE:GOTU – Get Free Report) last issued 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 business had revenue of $138.95 million during the quarter.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of the stock. Headlands Technologies LLC acquired a new stake in shares of Gaotu Techedu during the 1st quarter worth about $63,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Gaotu Techedu in the first quarter valued at approximately $99,000. SG Americas Securities LLC acquired a new position in shares of Gaotu Techedu in the 2nd quarter worth approximately $75,000. Virtu Financial LLC bought a new stake in Gaotu Techedu during the 1st quarter worth approximately $133,000. Finally, Marshall Wace LLP grew its position in Gaotu Techedu by 158.2% during the 2nd quarter. Marshall Wace LLP now owns 77,562 shares of the company’s stock worth $380,000 after acquiring an additional 47,522 shares during the last quarter. 48.42% of the stock is currently owned by institutional investors and hedge funds.
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.
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