Gaotu Techedu (NYSE:GOTU) Hits New 12-Month High at $8.22

Gaotu Techedu Inc. (NYSE:GOTUGet Free Report)’s share price hit a new 52-week high during trading on Thursday . The stock traded as high as $8.22 and last traded at $8.15, with a volume of 2580994 shares trading hands. The stock had previously closed at $7.64.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on GOTU shares. Citigroup raised Gaotu Techedu from a “sell” rating to a “buy” rating and raised their price target 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 for the company in a research report on Wednesday. China Renaissance cut Gaotu Techedu from a “buy” rating to a “hold” rating in a research report on Friday, November 24th. Finally, The Goldman Sachs Group initiated coverage on Gaotu Techedu in a research report on Friday, November 24th. They issued a “neutral” rating for the company.

View Our Latest Research Report on GOTU

Gaotu Techedu Stock Performance

The business has a 50 day moving average price of $4.13 and a two-hundred day moving average price of $3.24. The company has a market cap of $1.99 billion, a P/E ratio of 76.50 and a beta of -0.26.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. raised its position in Gaotu Techedu by 2,548.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 6,998,033 shares of the company’s stock valued at $25,333,000 after purchasing an additional 6,733,849 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Gaotu Techedu by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 5,637,189 shares of the company’s stock worth $20,407,000 after acquiring an additional 151,418 shares during the period. Harvest Fund Management Co. Ltd grew its holdings in shares of Gaotu Techedu by 20.4% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 5,373,915 shares of the company’s stock worth $19,507,000 after acquiring an additional 909,354 shares during the period. Acadian Asset Management LLC grew its holdings in shares of Gaotu Techedu by 16.4% during the 3rd quarter. Acadian Asset Management LLC now owns 4,445,239 shares of the company’s stock worth $12,248,000 after acquiring an additional 625,976 shares during the period. Finally, Bank of America Corp DE grew its holdings in shares of Gaotu Techedu by 76.6% during the 4th quarter. Bank of America Corp DE now owns 4,084,721 shares of the company’s stock worth $9,640,000 after acquiring an additional 1,772,187 shares during the period. Institutional investors own 15.78% of the company’s stock.

About Gaotu Techedu

(Get Free Report)

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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