Gaotu Techedu (NYSE:GOTU) Stock Price Down 0.2% – Here’s What Happened

Gaotu Techedu Inc. (NYSE:GOTU) shares were down 0.2% during trading on Monday. The stock traded as low as $2.39 and last traded at $2.4550. 582,274 shares were traded during mid-day trading, an increase of 14% from the average session volume of 510,582 shares. The stock had previously closed at $2.46.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered Gaotu Techedu from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, July 23rd. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company has a consensus rating of “Sell”.

Gaotu Techedu Trading Up 0.6%

The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.15. The business’s 50-day moving average is $1.94 and its two-hundred day moving average is $1.87. The firm has a market cap of $588.83 million, a P/E ratio of -11.69 and a beta of 0.73.

Gaotu Techedu (NYSE:GOTU) last released its quarterly earnings data on Thursday, August 27th. The company reported ($0.09) earnings per share 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 business had revenue of $245.82 million for the quarter, compared to analyst estimates of $238.39 million.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SmartHarvest Portfolios LLC bought a new position in Gaotu Techedu during the 1st quarter worth $29,000. Headlands Technologies LLC acquired a new position in shares of Gaotu Techedu during the second quarter valued at $35,000. Public Employees Retirement System of Ohio acquired a new position in shares of Gaotu Techedu during the second quarter valued at $53,000. Hsbc Holdings PLC grew its position in shares of Gaotu Techedu by 27.7% during the first quarter. Hsbc Holdings PLC now owns 161,501 shares of the company’s stock worth $319,000 after acquiring an additional 35,044 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of 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 acquiring an additional 50,362 shares during the period. Institutional investors and hedge funds own 48.42% of the company’s stock.

About Gaotu Techedu

Gaotu Techedu Inc is a China-based education technology company that provides learning services and products through online and offline channels. The company offers educational content, tutoring programs, and technology-enabled learning tools designed to support students and adult learners.

Its offerings have included courses for primary and secondary school students, foreign-language learning, professional and vocational development, and personal-interest education. Gaotu also develops educational materials and intelligent learning products intended to complement its course services.

Founded in 2014 as GSX Techedu Inc, the company later adopted the name Gaotu Techedu Inc and trades in the United States under the symbol GOTU.