Gaotu Techedu (NYSE:GOTU) Stock Price Down 4.3% – Here’s What Happened

Gaotu Techedu Inc. (NYSE:GOTU) shares traded down 4.3% during trading on Monday . The stock traded as low as $3.55 and last traded at $3.57. 399,566 shares were traded during trading, a decline of 89% from the average session volume of 3,621,831 shares. The stock had previously closed at $3.73.

Analyst Ratings Changes

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

Gaotu Techedu Stock Down 5.4 %

The company has a market cap of $912.24 million, a P/E ratio of -44.13 and a beta of -0.01. The business’s 50 day moving average is $3.60 and its 200 day moving average is $5.11.

Gaotu Techedu (NYSE:GOTU) last issued its quarterly earnings data on Tuesday, August 27th. The company reported ($0.23) earnings per share for the quarter. The company had revenue of $138.95 million for the quarter. Gaotu Techedu had a negative net margin of 17.63% and a negative return on equity of 20.26%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC grew its stake in shares of Gaotu Techedu by 473.6% during the third quarter. SG Americas Securities LLC now owns 88,231 shares of the company’s stock worth $346,000 after acquiring an additional 72,849 shares during the last quarter. BRIGHT VALLEY CAPITAL Ltd purchased a new position in shares of Gaotu Techedu in the second quarter worth $2,450,000. Millennium Management LLC lifted its stake in shares of Gaotu Techedu by 1,233.8% during the second quarter. Millennium Management LLC now owns 579,011 shares of the company’s stock worth $2,837,000 after buying an additional 535,601 shares during the period. Marshall Wace LLP increased its position in shares of Gaotu Techedu by 158.2% in the 2nd quarter. Marshall Wace LLP now owns 77,562 shares of the company’s stock valued at $380,000 after acquiring an additional 47,522 shares during the period. Finally, Jupiter Asset Management Ltd. purchased a new position in Gaotu Techedu in the 2nd quarter worth $693,000. 48.42% of the stock is owned by institutional investors and hedge funds.

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.