Gaotu Techedu (NYSE:GOTU) Shares Gap Down – What’s Next?

Shares of Gaotu Techedu Inc. (NYSE:GOTU) gapped down prior to trading on Wednesday . The stock had previously closed at $2.98, but opened at $2.60. Gaotu Techedu shares last traded at $2.59, with a volume of 2,247,253 shares traded.

Analyst Upgrades and Downgrades

Separately, Citigroup cut shares of Gaotu Techedu from a “buy” rating to a “sell” rating in a research note on Tuesday, August 27th.

Gaotu Techedu Trading Down 3.8 %

The company has a market capitalization of $661.90 million, a PE ratio of -4.47 and a beta of -0.01. The business’s 50-day simple moving average is $3.15 and its 200-day simple moving average is $4.08.

Hedge Funds Weigh In On Gaotu Techedu

Institutional investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio acquired a new stake in Gaotu Techedu in the 3rd quarter valued at $38,000. SG Americas Securities LLC acquired a new stake in Gaotu Techedu in the 2nd quarter valued at $75,000. Pinpoint Asset Management Ltd grew its stake in Gaotu Techedu by 14.3% in the 3rd quarter. Pinpoint Asset Management Ltd now owns 229,445 shares of the company’s stock valued at $899,000 after acquiring an additional 28,776 shares during the period. Barclays PLC grew its stake in Gaotu Techedu by 87.8% in 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 period. Finally, Marshall Wace LLP boosted its stake in Gaotu Techedu by 158.2% during the 2nd quarter. Marshall Wace LLP now owns 77,562 shares of the company’s stock worth $380,000 after purchasing an additional 47,522 shares during the last quarter. 48.42% of the stock is 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.