Gaotu Techedu (NYSE:GOTU) Shares Gap Up Following Better-Than-Expected Earnings

Shares of Gaotu Techedu Inc. (NYSE:GOTU) gapped up before the market opened on Wednesday following a better than expected earnings announcement. The stock had previously closed at $2.53, but opened at $2.80. Gaotu Techedu shares last traded at $3.17, with a volume of 4,975,926 shares trading hands.

The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.01. Gaotu Techedu had a negative net margin of 26.36% and a negative return on equity of 37.79%.

Institutional Trading of Gaotu Techedu

Several institutional investors and hedge funds have recently added to or reduced their stakes in GOTU. Norges Bank acquired a new position in shares of Gaotu Techedu in the fourth quarter valued at approximately $3,583,000. Marshall Wace LLP purchased a new position in Gaotu Techedu in the 4th quarter valued at $781,000. Point72 Asset Management L.P. acquired a new position in Gaotu Techedu in the 4th quarter valued at $343,000. Barclays PLC increased its stake in Gaotu Techedu by 195.8% in the 4th quarter. Barclays PLC now owns 215,982 shares of the company’s stock valued at $473,000 after buying an additional 142,974 shares during the period. Finally, JPMorgan Chase & Co. raised its position in Gaotu Techedu by 14.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 832,996 shares of the company’s stock worth $3,265,000 after buying an additional 108,224 shares during the last quarter. 48.42% of the stock is owned by hedge funds and other institutional investors.

Gaotu Techedu Trading Up 23.6 %

The company has a market cap of $811.68 million, a price-to-earnings ratio of -5.52 and a beta of 0.06. The company’s 50 day moving average price is $2.28 and its 200 day moving average price is $2.85.

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.