Gaotu Techedu (NYSE:GOTU) Trading 9.2% Higher – Time to Buy?

Gaotu Techedu Inc. (NYSE:GOTU) shares were up 9.2% during mid-day trading on Friday . The company traded as high as $2.06 and last traded at $2.09. Approximately 1,250,889 shares changed hands during mid-day trading, a decline of 33% from the average daily volume of 1,875,716 shares. The stock had previously closed at $1.91.

Gaotu Techedu Stock Up 12.8 %

The company’s 50-day moving average is $2.35 and its 200-day moving average is $3.26. The stock has a market capitalization of $559.37 million, a price-to-earnings ratio of -3.78 and a beta of 0.03.

Gaotu Techedu (NYSE:GOTU) last released its quarterly 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%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. lifted its position in shares of Gaotu Techedu by 14.9% during the third quarter. JPMorgan Chase & Co. now owns 832,996 shares of the company’s stock worth $3,265,000 after purchasing an additional 108,224 shares in the last quarter. Garden State Investment Advisory Services LLC acquired a new stake in Gaotu Techedu during the 3rd quarter worth approximately $337,000. Barclays PLC grew its stake in shares of 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 acquiring an additional 34,133 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Gaotu Techedu during the third quarter worth $38,000. Finally, State Street Corp raised its stake in shares of Gaotu Techedu by 20.7% in the third quarter. State Street Corp now owns 525,166 shares of the company’s stock valued at $2,059,000 after acquiring an additional 90,115 shares in the last quarter. 48.42% of the stock is currently owned by hedge funds and other 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.