Gaotu Techedu Inc. (NYSE:GOTU – Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $3.15, but opened at $3.34. Gaotu Techedu shares last traded at $3.25, with a volume of 458,621 shares traded.
Analyst Upgrades and Downgrades
Separately, Citigroup downgraded Gaotu Techedu from a “buy” rating to a “sell” rating in a report on Tuesday, August 27th.
Gaotu Techedu Price Performance
Gaotu Techedu (NYSE:GOTU – Get Free Report) last released its earnings results on Tuesday, August 27th. The company reported ($0.23) earnings per share for the quarter. The business had revenue of $138.95 million for the quarter. Gaotu Techedu had a negative net margin of 17.63% and a negative return on equity of 20.26%.
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. increased its position in Gaotu Techedu by 2,548.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 6,998,033 shares of the company’s stock worth $25,333,000 after purchasing an additional 6,733,849 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Gaotu Techedu by 97.8% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,365,100 shares of the company’s stock worth $15,491,000 after buying an additional 1,169,300 shares during the last quarter. BNP Paribas Financial Markets bought a new position in Gaotu Techedu during the first quarter valued at approximately $6,360,000. Millennium Management LLC lifted its stake in Gaotu Techedu by 1,233.8% in the second quarter. Millennium Management LLC now owns 579,011 shares of the company’s stock valued at $2,837,000 after acquiring an additional 535,601 shares during the last quarter. Finally, BRIGHT VALLEY CAPITAL Ltd bought a new stake in Gaotu Techedu in the second quarter worth approximately $2,450,000. Institutional investors and hedge funds 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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