Gaotu Techedu (NYSE:GOTU) PT Lowered to $5.81 at Citigroup

Gaotu Techedu (NYSE:GOTU) had its price target decreased by Citigroup from $12.34 to $5.81 in a report published on Monday, Benzinga reports. Citigroup currently has a buy rating on the stock.

Gaotu Techedu Trading Down 4.0 %

Shares of NYSE GOTU opened at $4.56 on Monday. The stock has a market cap of $1.18 billion and a P/E ratio of -57.00. The business’s fifty day simple moving average is $5.06 and its 200-day simple moving average is $5.84. Gaotu Techedu has a 12-month low of $2.22 and a 12-month high of $8.44.

Gaotu Techedu (NYSE:GOTU) last issued its quarterly earnings results on Tuesday, May 21st. The company reported ($0.01) earnings per share for the quarter. The company had revenue of $131.14 million for the quarter. Gaotu Techedu had a negative return on equity of 4.19% and a negative net margin of 4.22%.

Institutional Investors Weigh In On Gaotu Techedu

A number of large investors have recently modified their holdings of the company. Headlands Technologies LLC boosted its position in shares of Gaotu Techedu by 1,362.7% during the 2nd quarter. Headlands Technologies LLC now owns 141,718 shares of the company’s stock worth $694,000 after acquiring an additional 132,029 shares in the last quarter. National Bank of Canada FI acquired a new position in Gaotu Techedu in the second quarter valued at approximately $2,135,000. SG Americas Securities LLC purchased a new position in Gaotu Techedu in the second quarter valued at approximately $75,000. Virtu Financial LLC acquired a new stake in Gaotu Techedu during the first quarter worth approximately $133,000. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Gaotu Techedu by 97.8% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,365,100 shares of the company’s stock worth $15,491,000 after buying an additional 1,169,300 shares during the last quarter. 48.42% of the stock is owned by hedge funds and other institutional investors.

About Gaotu Techedu

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.