Gaotu Techedu (NYSE:GOTU) Hits New 52-Week Low – Here’s What Happened

Gaotu Techedu Inc. (NYSE:GOTU)’s share price hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $2.14 and last traded at $2.14, with a volume of 1050781 shares changing hands. The stock had previously closed at $2.17.

Gaotu Techedu Stock Performance

The stock’s 50-day moving average is $2.63 and its 200 day moving average is $3.56. The stock has a market capitalization of $555.48 million, a PE ratio of -3.75 and a beta of -0.01.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in GOTU. JPMorgan Chase & Co. raised its holdings in shares of Gaotu Techedu by 14.9% in the third 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 during the last quarter. Garden State Investment Advisory Services LLC acquired a new position in Gaotu Techedu in the 3rd quarter valued at about $337,000. Barclays PLC raised its stake in Gaotu Techedu by 87.8% during the 3rd quarter. Barclays PLC now owns 73,008 shares of the company’s stock valued at $286,000 after acquiring an additional 34,133 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Gaotu Techedu during the 3rd quarter worth approximately $38,000. Finally, State Street Corp grew its stake 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 purchasing an additional 90,115 shares during the last quarter. Hedge funds and other institutional investors own 48.42% of the company’s stock.

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.