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

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

Wall Street Analyst Weigh In

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

Gaotu Techedu Price Performance

The company’s 50-day moving average price is $3.10 and its two-hundred day moving average price is $4.03. The company has a market capitalization of $630.76 million, a price-to-earnings ratio of -4.27 and a beta of -0.01.

Institutional Investors Weigh In On Gaotu Techedu

Large investors have recently modified their holdings of the company. BRIGHT VALLEY CAPITAL Ltd acquired a new stake in shares of Gaotu Techedu during the second quarter worth $2,450,000. GSA Capital Partners LLP increased its position in shares of Gaotu Techedu by 249.7% during the third 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. Millennium Management LLC increased its position 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% during the second quarter. Marshall Wace LLP now owns 77,562 shares of the company’s stock worth $380,000 after buying an additional 47,522 shares during the period. Finally, National Bank of Canada FI acquired a new stake in shares of Gaotu Techedu during the second quarter worth $2,135,000. 48.42% of the stock is currently 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.