Gaotu Techedu Inc. (NYSE:GOTU – Get Free Report)’s stock price traded up 8.6% during trading on Thursday . The company traded as high as $7.18 and last traded at $7.05. 1,605,991 shares were traded during mid-day trading, a decline of 69% from the average session volume of 5,214,358 shares. The stock had previously closed at $6.49.
Analysts Set New Price Targets
Several analysts have recently weighed in on the stock. Citigroup raised shares of Gaotu Techedu from a “sell” rating to a “buy” rating and raised their price objective for the stock from $2.48 to $4.50 in a report on Wednesday, January 3rd. CLSA upgraded Gaotu Techedu from an “underperform” rating to an “outperform” rating and set a $8.65 price target on the stock in a research report on Wednesday, February 28th.
Read Our Latest Research Report on GOTU
Gaotu Techedu Stock Up 10.9 %
Gaotu Techedu (NYSE:GOTU – Get Free Report) last posted its quarterly earnings data on Tuesday, February 27th. The company reported ($0.07) earnings per share for the quarter. Gaotu Techedu had a negative net margin of 0.10% and a negative return on equity of 0.10%. The company had revenue of $107.19 million during the quarter.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. increased its stake in shares of 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 valued at $25,333,000 after buying an additional 6,733,849 shares during the period. Yong Rong HK Asset Management Ltd acquired a new stake in shares of Gaotu Techedu during the 4th quarter worth approximately $11,487,000. Tiger Pacific Capital LP acquired a new position in Gaotu Techedu in the fourth quarter valued at approximately $10,665,000. Harvest Fund Management Co. Ltd grew its holdings in Gaotu Techedu by 98.4% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 4,464,561 shares of the company’s stock worth $12,278,000 after acquiring an additional 2,214,765 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Gaotu Techedu during the 3rd quarter valued at $3,300,000. Institutional investors own 48.42% of the company’s stock.
About Gaotu Techedu
Gaotu Techedu Inc, a technology-driven education company, provides online K-12 after-school tutoring services in the People's Republic of China. The company provides foreign language courses comprising English and Japanese, as well as test preparation courses for students taking language certification exams; and professional courses primarily for college students and adults preparing for professional qualification exams, such teacher's qualification, Chartered Financial Analyst designation, Certified Public Accountant designation, Certified Tax Agent designation, securities qualification exams, and other exams.
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