Gaotu Techedu (NYSE:GOTU) Stock Price Crosses Above Fifty Day Moving Average – Here’s What Happened

Gaotu Techedu Inc. (NYSE:GOTU)’s share price passed above its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $2.40 and traded as high as $2.45. Gaotu Techedu shares last traded at $2.4350, with a volume of 331,551 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings raised Gaotu Techedu from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, October 30th. One research analyst has rated the stock with a Sell rating. According to data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Gaotu Techedu Stock Down 1.0%

The stock has a market capitalization of $582.34 million, a PE ratio of -11.79 and a beta of 0.81. The firm’s fifty day moving average is $2.42 and its 200-day moving average is $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 released its quarterly earnings data on Thursday, August 27th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.08). The business had revenue of $245.82 million during the quarter, compared to analysts’ expectations of $238.39 million. Gaotu Techedu had a negative return on equity of 26.89% and a negative net margin of 5.00%.

Institutional Trading of Gaotu Techedu

A number of institutional investors have recently added to or reduced their stakes in GOTU. Headlands Technologies LLC acquired a new stake in Gaotu Techedu during the 2nd quarter valued at $35,000. Public Employees Retirement System of Ohio purchased a new stake in Gaotu Techedu during the 2nd quarter worth $53,000. Hsbc Holdings PLC lifted its holdings in Gaotu Techedu by 27.7% in the 1st quarter. Hsbc Holdings PLC now owns 161,501 shares of the company’s stock worth $319,000 after buying an additional 35,044 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in Gaotu Techedu by 2.2% in 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 in the last quarter. 48.42% of the stock is owned by hedge funds and other institutional investors.

Gaotu Techedu Company Profile

Gaotu Techedu Inc. is a China-based online education company that provides courses and learning services through digital platforms. Its offerings include academic tutoring for school-age students, test preparation, and education for adult and vocational learners. The company was founded in 2014 as GSX Techedu and adopted the Gaotu name in 2021. It serves learners primarily in China, using online instruction and related learning tools to deliver its courses. Gaotu was founded by Chen Xiangdong, who has served as the company’s chairman and chief executive officer.