Gaotu Techedu Inc. (NYSE:GOTU) Short Interest Down 23.5% in March

Gaotu Techedu Inc. (NYSE:GOTU) was the recipient of a significant drop in short interest in March. As of March 15th, there was short interest totalling 5,970,000 shares, a drop of 23.5% from the February 28th total of 7,800,000 shares. Approximately 4.1% of the company’s stock are short sold. Based on an average trading volume of 2,680,000 shares, the days-to-cover ratio is currently 2.2 days.

Gaotu Techedu Stock Performance

Shares of GOTU traded up $0.08 during trading hours on Wednesday, hitting $3.05. The company had a trading volume of 1,161,752 shares, compared to its average volume of 2,382,450. Gaotu Techedu has a 52-week low of $1.87 and a 52-week high of $8.44. The firm has a fifty day moving average price of $2.94 and a 200-day moving average price of $2.84. The stock has a market capitalization of $791.69 million, a price-to-earnings ratio of -5.35 and a beta of 0.10.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio purchased a new position in Gaotu Techedu in the 3rd quarter worth approximately $38,000. Catalyst Funds Management Pty Ltd purchased a new position in shares of Gaotu Techedu in the fourth quarter worth $38,000. Two Sigma Advisers LP bought a new position in shares of Gaotu Techedu during the fourth quarter valued at $41,000. Pinpoint Asset Management Ltd boosted its position in shares of Gaotu Techedu by 14.3% during the third quarter. Pinpoint Asset Management Ltd now owns 229,445 shares of the company’s stock valued at $899,000 after buying an additional 28,776 shares during the last quarter. Finally, Barclays PLC increased its holdings in Gaotu Techedu by 87.8% in the 3rd quarter. Barclays PLC now owns 73,008 shares of the company’s stock worth $286,000 after buying an additional 34,133 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.