Gaotu Techedu (NYSE:GOTU) Shares Up 6.5%

Gaotu Techedu Inc. (NYSE:GOTU) shares shot up 6.5% during mid-day trading on Tuesday . The stock traded as high as $5.24 and last traded at $5.24. 493,963 shares were traded during trading, a decline of 88% from the average session volume of 4,258,677 shares. The stock had previously closed at $4.92.

Gaotu Techedu Trading Up 6.4 %

The company has a 50 day moving average of $6.12 and a 200-day moving average of $5.60.

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

Institutional Investors Weigh In On Gaotu Techedu

A number of hedge funds have recently bought and sold shares of the stock. Virtu Financial LLC acquired a new stake in Gaotu Techedu in the 1st quarter valued at about $133,000. Healthcare of Ontario Pension Plan Trust Fund raised its position in Gaotu Techedu by 97.8% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,365,100 shares of the company’s stock valued at $15,491,000 after purchasing an additional 1,169,300 shares in the last quarter. Seven Eight Capital LP acquired a new stake in shares of Gaotu Techedu during the 1st quarter worth about $957,000. Headlands Technologies LLC acquired a new stake in shares of Gaotu Techedu during the 1st quarter worth about $63,000. Finally, BNP Paribas Financial Markets acquired a new stake in shares of Gaotu Techedu during the 1st quarter worth about $6,360,000. Institutional investors and hedge funds own 48.42% of the company’s stock.

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.