Gaotu Techedu (NYSE:GOTU) Reaches New 1-Year Low – What’s Next?

Gaotu Techedu Inc. (NYSE:GOTU)’s share price reached a new 52-week low during trading on Friday . The stock traded as low as $2.47 and last traded at $2.48, with a volume of 1101625 shares. The stock had previously closed at $2.55.

Analyst Upgrades and Downgrades

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

Gaotu Techedu Trading Down 2.7 %

The stock has a fifty day simple moving average of $3.13 and a two-hundred day simple moving average of $4.07. The company has a market cap of $643.73 million, a PE ratio of -4.47 and a beta of -0.01.

Institutional Investors Weigh In On Gaotu Techedu

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new position in Gaotu Techedu in the 2nd quarter valued at approximately $75,000. National Bank of Canada FI acquired a new position in shares of Gaotu Techedu during the 2nd quarter worth $2,135,000. Headlands Technologies LLC boosted its position in shares of Gaotu Techedu by 1,362.7% in the 2nd quarter. Headlands Technologies LLC now owns 141,718 shares of the company’s stock worth $694,000 after buying an additional 132,029 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new stake in Gaotu Techedu in the 2nd quarter valued at about $693,000. Finally, Marshall Wace LLP increased its holdings in Gaotu Techedu by 158.2% during 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 in the last quarter. 48.42% of the stock is currently owned by institutional investors and hedge funds.

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.