Gaotu Techedu (NYSE:GOTU) Shares Gap Up to $2.70

Gaotu Techedu Inc. (NYSE:GOTU)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $2.70, but opened at $2.82. Gaotu Techedu shares last traded at $2.87, with a volume of 330,046 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Citigroup cut Gaotu Techedu from a “buy” rating to a “sell” rating in a research note on Tuesday.

Gaotu Techedu Price Performance

The stock’s fifty day simple moving average is $4.66 and its 200-day simple moving average is $5.85. The firm has a market cap of $821.79 million and a PE ratio of -39.75.

Hedge Funds Weigh In On Gaotu Techedu

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets acquired a new position in shares of Gaotu Techedu in the first quarter valued at about $6,360,000. Tiger Pacific Capital LP acquired a new position in Gaotu Techedu in the 4th quarter worth approximately $10,665,000. Seven Eight Capital LP acquired a new position in Gaotu Techedu in the 1st quarter worth approximately $957,000. HCEP Management Ltd acquired a new stake in Gaotu Techedu during the 4th quarter valued at approximately $3,620,000. Finally, Headlands Technologies LLC purchased a new stake in shares of Gaotu Techedu in the 1st quarter valued at $63,000. Hedge funds and other institutional investors own 48.42% of the company’s stock.

Gaotu Techedu Company Profile

Gaotu Techedu Inc, a technology-driven education company, provides learning services, educational content, and digitalized learning products in the People's Republic of China. The company offers traditional online academic subject tutoring services that covers academic subjects, such as mathematics, English, Chinese, physics, chemistry, biology, history, geography, and political science for students; non-academic tutoring services; personal interest courses comprising chess learning, family relationships and education, humanities, and science courses; and professional courses primarily for college students and adults preparing for professional qualification exams, such as teacher's qualification, Chartered Financial Analyst designation, Certified Public Accountant designation, and other exams.