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

Gaotu Techedu Inc. (NYSE:GOTU)’s share price gapped up prior to trading 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.

Analyst Upgrades and Downgrades

Separately, Citigroup lowered shares of Gaotu Techedu from a “buy” rating to a “sell” rating in a report on Tuesday.

Gaotu Techedu Stock Up 13.0 %

The company has a market capitalization of $788.20 million and a P/E ratio of -36.13. The firm’s 50-day moving average price is $4.72 and its 200 day moving average price is $5.88.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in GOTU. Headlands Technologies LLC bought a new stake in Gaotu Techedu during the first quarter worth $63,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Gaotu Techedu during the 1st quarter worth $99,000. SG Americas Securities LLC purchased a new position in shares of Gaotu Techedu in the 2nd quarter worth about $75,000. Virtu Financial LLC bought a new position in Gaotu Techedu during the first quarter valued at about $133,000. Finally, Marshall Wace LLP increased its holdings in Gaotu Techedu by 158.2% during the second quarter. Marshall Wace LLP now owns 77,562 shares of the company’s stock worth $380,000 after buying an additional 47,522 shares during the last quarter. 48.42% of the stock is owned by institutional investors.

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.