Gaotu Techedu (NYSE:GOTU) Hits New 12-Month Low – Time to Sell?

Gaotu Techedu Inc. (NYSE:GOTU) shares hit a new 52-week low during trading on Thursday . The stock traded as low as $1.98 and last traded at $1.99, with a volume of 1855458 shares changing hands. The stock had previously closed at $2.08.

Gaotu Techedu Stock Up 0.5 %

The firm has a market capitalization of $516.54 million, a PE ratio of -3.49 and a beta of 0.03. The stock has a 50-day moving average price of $2.52 and a 200 day moving average price of $3.46.

Hedge Funds Weigh In On Gaotu Techedu

A number of large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its position in shares of Gaotu Techedu by 14.9% in the third quarter. JPMorgan Chase & Co. now owns 832,996 shares of the company’s stock valued at $3,265,000 after purchasing an additional 108,224 shares during the period. Garden State Investment Advisory Services LLC purchased a new position in Gaotu Techedu in the 3rd quarter valued at about $337,000. Barclays PLC boosted 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 during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Gaotu Techedu during the 3rd quarter worth approximately $38,000. Finally, State Street Corp raised its holdings in shares of Gaotu Techedu by 20.7% during 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 during the last quarter. 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.