Gaotu Techedu (NYSE:GOTU) Shares Down 6.1% – What’s Next?

Gaotu Techedu Inc. (NYSE:GOTU)’s share price dropped 6.1% during trading on Tuesday . The stock traded as low as $2.47 and last traded at $2.47. Approximately 307,989 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 3,340,881 shares. The stock had previously closed at $2.63.

Analyst Ratings Changes

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

Gaotu Techedu Trading Down 3.4 %

The firm has a market capitalization of $659.31 million, a price-to-earnings ratio of -4.61 and a beta of -0.01. The business has a 50-day moving average price of $3.07 and a two-hundred day moving average price of $3.96.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of GOTU. Public Employees Retirement System of Ohio acquired a new position in Gaotu Techedu during the 3rd quarter worth $38,000. SG Americas Securities LLC acquired a new position in shares of Gaotu Techedu during the second quarter valued at approximately $75,000. Pinpoint Asset Management Ltd raised its holdings in Gaotu Techedu by 14.3% during the third quarter. Pinpoint Asset Management Ltd now owns 229,445 shares of the company’s stock worth $899,000 after purchasing an additional 28,776 shares in the last quarter. Barclays PLC lifted its position in Gaotu Techedu by 87.8% in the third quarter. Barclays PLC now owns 73,008 shares of the company’s stock worth $286,000 after purchasing 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 valued at $380,000 after purchasing an additional 47,522 shares in the last quarter. Institutional investors own 48.42% of the company’s stock.

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.