Gaotu Techedu (NYSE:GOTU) Shares Gap Up – Here’s What Happened

Gaotu Techedu Inc. (NYSE:GOTU) shares gapped up before the market opened on Wednesday . The stock had previously closed at $2.53, but opened at $2.62. Gaotu Techedu shares last traded at $2.68, with a volume of 688,523 shares changing hands.

Gaotu Techedu Stock Up 3.7 %

The firm’s fifty day moving average price is $2.25 and its two-hundred day moving average price is $2.98. The stock has a market capitalization of $681.11 million, a PE ratio of -4.57 and a beta of 0.06.

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

Hedge Funds Weigh In On Gaotu Techedu

Hedge funds have recently modified their holdings of the company. Barclays PLC boosted its position in shares of Gaotu Techedu by 87.8% during the third quarter. Barclays PLC now owns 73,008 shares of the company’s stock worth $286,000 after acquiring an additional 34,133 shares during the last quarter. State Street Corp increased its stake in Gaotu Techedu by 20.7% in the 3rd quarter. State Street Corp now owns 525,166 shares of the company’s stock worth $2,059,000 after buying an additional 90,115 shares during the period. JPMorgan Chase & Co. increased its stake in Gaotu Techedu by 14.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 832,996 shares of the company’s stock worth $3,265,000 after buying an additional 108,224 shares during the period. GSA Capital Partners LLP increased its stake in Gaotu Techedu by 249.7% in the 3rd quarter. GSA Capital Partners LLP now owns 90,881 shares of the company’s stock worth $356,000 after buying an additional 64,896 shares during the period. Finally, Millennium Management LLC increased its stake in Gaotu Techedu by 1,233.8% in the 2nd 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. 48.42% of the stock is currently owned by institutional investors.

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.