Gaotu Techedu (NYSE:GOTU) Stock Price Down 4.4% – Here’s What Happened

Shares of Gaotu Techedu Inc. (NYSE:GOTU) fell 4.4% during mid-day trading on Wednesday. The stock traded as low as $2.47 and last traded at $2.4580. 72,325 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 444,214 shares. The stock had previously closed at $2.57.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut shares of Gaotu Techedu from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, October 16th. One investment analyst has rated the stock with a Sell rating. According to MarketBeat, Gaotu Techedu currently has a consensus rating of “Sell”.

Gaotu Techedu Stock Performance

The stock has a market capitalization of $548.06 million, a price-to-earnings ratio of -10.88 and a beta of 0.73. The company has a 50 day simple moving average of $2.32 and a 200-day simple moving average of $2.02. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.15.

Gaotu Techedu (NYSE:GOTU) last announced its quarterly earnings data on Thursday, August 27th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.08). Gaotu Techedu had a negative return on equity of 26.89% and a negative net margin of 5.00%. The company had revenue of $245.82 million for the quarter, compared to analyst estimates of $238.39 million.

Hedge Funds Weigh In On Gaotu Techedu

Several institutional investors have recently made changes to their positions in GOTU. Headlands Technologies LLC bought a new position in shares of Gaotu Techedu during the 2nd quarter worth about $35,000. Public Employees Retirement System of Ohio bought a new stake in Gaotu Techedu in the 2nd quarter valued at about $53,000. Hsbc Holdings PLC increased its position in Gaotu Techedu by 27.7% in the 1st quarter. Hsbc Holdings PLC now owns 161,501 shares of the company’s stock valued at $319,000 after buying an additional 35,044 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in Gaotu Techedu by 2.2% during the 1st quarter. Renaissance Technologies LLC now owns 2,330,640 shares of the company’s stock worth $4,568,000 after buying an additional 50,362 shares during the period. Institutional investors and hedge funds own 48.42% of the company’s stock.

Gaotu Techedu Company Profile

Gaotu Techedu Inc (NYSE: GOTU) is a China-based education technology company that provides online and offline learning services. The company offers courses and educational content through digital platforms, supported by teachers, instructional materials, and technology designed to serve students and adult learners.

Gaotu’s offerings have included educational programs in areas such as language learning, professional and vocational development, examination preparation, and other academic subjects.