Gaotu Techedu (NYSE:GOTU) Shares Down 5% – Here’s Why

Gaotu Techedu Inc. (NYSE:GOTU)’s stock price fell 5% on Tuesday . The company traded as low as $1.96 and last traded at $1.99. 1,005,959 shares changed hands during mid-day trading, a decline of 40% from the average session volume of 1,664,770 shares. The stock had previously closed at $2.09.

Gaotu Techedu Stock Up 1.3 %

The firm has a market cap of $494.48 million, a PE ratio of -3.34 and a beta of 0.03. The firm’s 50 day moving average is $2.36 and its 200-day moving average is $3.27.

Gaotu Techedu (NYSE:GOTU) last released its earnings results on Wednesday, December 4th. The company reported ($0.26) earnings per share for the quarter. Gaotu Techedu had a negative return on equity of 37.79% and a negative net margin of 26.36%.

Hedge Funds Weigh In On Gaotu Techedu

A number of large investors have recently modified their holdings of the company. BRIGHT VALLEY CAPITAL Ltd purchased a new stake in Gaotu Techedu during the 2nd quarter worth $2,450,000. State Street Corp lifted its stake in shares of Gaotu Techedu by 20.7% during the third quarter. State Street Corp now owns 525,166 shares of the company’s stock worth $2,059,000 after purchasing an additional 90,115 shares in the last quarter. Barclays PLC boosted its position in shares of Gaotu Techedu by 87.8% in the third quarter. Barclays PLC now owns 73,008 shares of the company’s stock worth $286,000 after buying an additional 34,133 shares during the period. GSA Capital Partners LLP grew its stake in shares of Gaotu Techedu by 249.7% in the third 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 in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Gaotu Techedu by 14.9% during 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 during the period. 48.42% of the stock is currently owned by hedge funds and other institutional investors.

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.