Gaotu Techedu (NYSE:GOTU) Downgraded to Underperform at CLSA

CLSA lowered shares of Gaotu Techedu (NYSE:GOTUFree Report) from an outperform rating to an underperform rating in a report released on Thursday morning, reports. They currently have $3.30 target price on the stock, down from their previous target price of $3.32.

Gaotu Techedu Trading Down 11.1 %

Shares of GOTU opened at $2.88 on Thursday. The firm has a fifty day simple moving average of $3.29 and a 200 day simple moving average of $3.45. Gaotu Techedu has a 12 month low of $0.64 and a 12 month high of $5.49. The stock has a market capitalization of $747.50 million, a price-to-earnings ratio of 72.00 and a beta of -0.59.

Gaotu Techedu (NYSE:GOTUGet Free Report) last posted its quarterly earnings results on Tuesday, May 30th. The company reported $0.06 earnings per share for the quarter. Gaotu Techedu had a net margin of 2.99% and a return on equity of 2.39%. The company had revenue of $102.99 million for the quarter.

Institutional Trading of Gaotu Techedu

Several hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC grew its stake in Gaotu Techedu by 18.0% during the first quarter. Virtu Financial LLC now owns 24,517 shares of the company’s stock valued at $103,000 after acquiring an additional 3,743 shares in the last quarter. Credit Suisse AG raised its holdings in Gaotu Techedu by 32.3% during the 2nd quarter. Credit Suisse AG now owns 16,219 shares of the company’s stock valued at $47,000 after buying an additional 3,957 shares during the last quarter. OLD Mission Capital LLC increased its position in Gaotu Techedu by 301.7% during the 1st quarter. OLD Mission Capital LLC now owns 11,486 shares of the company’s stock valued at $48,000 after purchasing an additional 8,627 shares during the period. BlackRock Inc. increased its position in Gaotu Techedu by 254.5% during the 1st quarter. BlackRock Inc. now owns 15,017 shares of the company’s stock valued at $63,000 after purchasing an additional 10,781 shares during the period. Finally, XTX Topco Ltd purchased a new stake in shares of Gaotu Techedu in the 2nd quarter worth about $31,000. Institutional investors own 15.78% of the company’s stock.

About Gaotu Techedu

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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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