Gaotu Techedu (NYSE:GOTU) Shares Gap Up Following Strong Earnings

Gaotu Techedu Inc. (NYSE:GOTU)’s stock price gapped up prior to trading on Wednesday after the company announced better than expected quarterly earnings. 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 changing hands.

The company reported ($0.26) earnings per share (EPS) for the quarter. Gaotu Techedu had a negative net margin of 26.36% and a negative return on equity of 37.79%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Barclays PLC boosted its position in Gaotu Techedu by 87.8% during the third quarter. Barclays PLC now owns 73,008 shares of the company’s stock valued at $286,000 after purchasing an additional 34,133 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Gaotu Techedu by 14.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 832,996 shares of the company’s stock valued at $3,265,000 after buying an additional 108,224 shares in the last quarter. State Street Corp boosted its holdings in shares of Gaotu Techedu by 20.7% in the 3rd quarter. State Street Corp now owns 525,166 shares of the company’s stock valued at $2,059,000 after buying an additional 90,115 shares in the last quarter. GSA Capital Partners LLP grew its position in shares of Gaotu Techedu by 249.7% in the 3rd quarter. GSA Capital Partners LLP now owns 90,881 shares of the company’s stock worth $356,000 after buying an additional 64,896 shares during the last quarter. Finally, Garden State Investment Advisory Services LLC bought a new position in shares of Gaotu Techedu during the 3rd quarter worth approximately $337,000. 48.42% of the stock is owned by institutional investors.

Gaotu Techedu Price Performance

The company has a market cap of $857.88 million, a PE ratio of -5.80 and a beta of 0.06. The stock’s 50-day moving average is $2.30 and its 200 day moving average 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.