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

Shares of Gaotu Techedu Inc. (NYSE:GOTU) gapped down before the market opened on Thursday . The stock had previously closed at $3.47, but opened at $3.37. Gaotu Techedu shares last traded at $3.50, with a volume of 315,397 shares traded.

Gaotu Techedu Trading Up 6.2 %

The firm has a market capitalization of $953.92 million, a P/E ratio of -6.45 and a beta of 0.10. The firm has a 50-day moving average of $2.60 and a two-hundred day moving average of $2.80.

Hedge Funds Weigh In On Gaotu Techedu

A number of hedge funds have recently made changes to their positions in the stock. Norges Bank bought a new stake in shares of Gaotu Techedu during the fourth quarter valued at approximately $3,583,000. Marshall Wace LLP purchased a new position in shares of Gaotu Techedu in the 4th quarter worth about $781,000. Point72 Asset Management L.P. purchased a new stake in Gaotu Techedu during the 4th quarter valued at about $343,000. Barclays PLC lifted its holdings in Gaotu Techedu by 195.8% in the 4th quarter. Barclays PLC now owns 215,982 shares of the company’s stock worth $473,000 after buying an additional 142,974 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of 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 acquiring an additional 108,224 shares in the last quarter. 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.