Garden State Investment Advisory Services LLC Takes $337,000 Position in Gaotu Techedu Inc. (NYSE:GOTU)

Garden State Investment Advisory Services LLC purchased a new position in shares of Gaotu Techedu Inc. (NYSE:GOTU) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 85,850 shares of the company’s stock, valued at approximately $337,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. BRIGHT VALLEY CAPITAL Ltd bought a new position in Gaotu Techedu during the second quarter worth $2,450,000. GSA Capital Partners LLP boosted its holdings 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 valued at $356,000 after buying an additional 64,896 shares during the period. Millennium Management LLC grew its position in shares of Gaotu Techedu by 1,233.8% during the 2nd quarter. Millennium Management LLC now owns 579,011 shares of the company’s stock valued at $2,837,000 after buying an additional 535,601 shares during the last quarter. Marshall Wace LLP raised its stake in Gaotu Techedu by 158.2% during the second quarter. Marshall Wace LLP now owns 77,562 shares of the company’s stock worth $380,000 after acquiring an additional 47,522 shares during the period. Finally, National Bank of Canada FI acquired a new position in Gaotu Techedu in the second quarter valued at approximately $2,135,000. Institutional investors own 48.42% of the company’s stock.

Analysts Set New Price Targets

Separately, Citigroup lowered Gaotu Techedu from a “buy” rating to a “sell” rating in a research report on Tuesday, August 27th.

Gaotu Techedu Stock Down 1.6 %

GOTU stock opened at $2.46 on Friday. The stock has a market cap of $638.54 million, a PE ratio of -4.32 and a beta of -0.01. The firm’s 50-day simple moving average is $2.96 and its 200 day simple moving average is $3.89. Gaotu Techedu Inc. has a fifty-two week low of $2.40 and a fifty-two week high of $8.44.

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.