Gaotu Techedu (NYSE:GOTU) Trading Up 8.4% – Time to Buy?

Gaotu Techedu Inc. (NYSE:GOTU) shares rose 8.4% during trading on Wednesday . The stock traded as high as $2.73 and last traded at $2.71. Approximately 574,523 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 3,346,594 shares. The stock had previously closed at $2.50.

Wall Street Analysts Forecast Growth

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

Gaotu Techedu Price Performance

The business has a 50 day moving average of $3.15 and a 200 day moving average of $4.30. The firm has a market capitalization of $729.39 million, a price-to-earnings ratio of -7.97 and a beta of 0.02.

Gaotu Techedu (NYSE:GOTU) last posted its earnings results on Tuesday, August 27th. The company reported ($0.23) earnings per share 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 for the quarter.

Institutional Trading of Gaotu Techedu

A number of large investors have recently added to or reduced their stakes in GOTU. Virtu Financial LLC purchased a new stake in Gaotu Techedu during the first quarter worth about $133,000. SG Americas Securities LLC purchased a new stake in Gaotu Techedu during the second quarter worth about $75,000. National Bank of Canada FI purchased a new stake in Gaotu Techedu during the second quarter worth about $2,135,000. Headlands Technologies LLC increased its stake in shares of Gaotu Techedu by 1,362.7% in the second quarter. Headlands Technologies LLC now owns 141,718 shares of the company’s stock worth $694,000 after purchasing an additional 132,029 shares in the last quarter. Finally, Jupiter Asset Management Ltd. purchased a new position in shares of Gaotu Techedu in the second quarter worth about $693,000. 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.