Gaotu Techedu (NYSE:GOTU) Stock Price Up 2.9% – Here’s What Happened

Gaotu Techedu Inc. (NYSE:GOTU)’s stock price rose 2.9% during trading on Wednesday . The company traded as high as $1.98 and last traded at $1.9750. Approximately 253,651 shares were traded during mid-day trading, a decline of 23% from the average daily volume of 330,873 shares. The stock had previously closed at $1.92.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Gaotu Techedu in a report on Friday, March 27th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has a consensus rating of “Sell”.

Gaotu Techedu Stock Up 2.9%

The stock has a market capitalization of $473.70 million, a PE ratio of -10.39 and a beta of 0.64. The firm’s fifty day moving average is $2.00 and its 200-day moving average is $2.31. The company has a quick ratio of 0.92, a current ratio of 0.94 and a debt-to-equity ratio of 0.03.

Gaotu Techedu (NYSE:GOTU) last posted its quarterly earnings results on Thursday, March 5th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.03. The firm had revenue of $240.88 million during the quarter, compared to analysts’ expectations of $232.47 million. Gaotu Techedu had a negative net margin of 5.31% and a negative return on equity of 21.09%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in GOTU. Millennium Management LLC grew its position in Gaotu Techedu by 602.0% during the first quarter. Millennium Management LLC now owns 1,996,144 shares of the company’s stock worth $6,487,000 after buying an additional 1,711,774 shares during the period. American Century Companies Inc. grew its position in Gaotu Techedu by 57.0% during the second quarter. American Century Companies Inc. now owns 61,076 shares of the company’s stock worth $220,000 after buying an additional 22,164 shares during the period. Arrowstreet Capital Limited Partnership grew its position in Gaotu Techedu by 157.3% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,568,492 shares of the company’s stock worth $5,662,000 after buying an additional 958,782 shares during the period. Walleye Trading LLC grew its position in Gaotu Techedu by 110.1% during the second quarter. Walleye Trading LLC now owns 21,722 shares of the company’s stock worth $78,000 after buying an additional 11,383 shares during the period. Finally, Marshall Wace LLP grew its position in Gaotu Techedu by 3,628.9% during the second quarter. Marshall Wace LLP now owns 788,541 shares of the company’s stock worth $2,847,000 after buying an additional 767,394 shares during the period. 48.42% of the stock is currently owned by institutional investors and hedge funds.

About Gaotu Techedu

Gaotu Techedu Inc (NYSE:GOTU), formerly known as GSX Techedu, is a Beijing-based provider of online education services in China. Since its founding in 2014, the company has built a technology-driven platform that delivers live, interactive tutoring sessions to students primarily in the K-12 segment. Gaotu Techedu’s rebranding in 2021 underscored its commitment to leveraging cutting-edge digital tools to expand access to quality instruction across core academic subjects.

The company’s main offerings include small-group and one-on-one classes in mathematics, Chinese, English, physics and chemistry, as well as targeted test preparation for high-stakes national and local examinations.