Gaotu Techedu Inc. (NYSE:GOTU) Sees Large Drop in Short Interest

Gaotu Techedu Inc. (NYSE:GOTU) was the target of a significant decline in short interest in the month of October. As of October 31st, there was short interest totalling 8,670,000 shares, a decline of 9.4% from the October 15th total of 9,570,000 shares. Approximately 5.8% of the shares of the company are sold short. Based on an average daily volume of 2,680,000 shares, the short-interest ratio is currently 3.2 days.

Hedge Funds Weigh In On Gaotu Techedu

Institutional investors have recently modified their holdings of the business. Barclays PLC raised its position in Gaotu Techedu by 87.8% in the 3rd quarter. Barclays PLC now owns 73,008 shares of the company’s stock valued at $286,000 after purchasing an additional 34,133 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Gaotu Techedu in the 3rd quarter valued at approximately $38,000. State Street Corp lifted 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 purchasing an additional 90,115 shares during the period. Pinpoint Asset Management Ltd grew its position 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 buying an additional 28,776 shares during the period. Finally, Garden State Investment Advisory Services LLC acquired a new stake in shares of Gaotu Techedu during the 3rd quarter valued at approximately $337,000. Institutional investors and hedge funds own 48.42% of the company’s stock.

Gaotu Techedu Price Performance

GOTU stock traded up $0.01 during trading on Tuesday, hitting $2.60. The stock had a trading volume of 499,312 shares, compared to its average volume of 3,395,313. The company’s 50-day moving average price is $3.17 and its two-hundred day moving average price is $4.46. Gaotu Techedu has a twelve month low of $2.30 and a twelve month high of $8.44. The stock has a market capitalization of $674.88 million, a P/E ratio of -7.62 and a beta of 0.02.

Gaotu Techedu (NYSE:GOTU) last posted its quarterly earnings data on Tuesday, August 27th. The company reported ($0.23) EPS for the quarter. The firm had revenue of $138.95 million during the quarter. Gaotu Techedu had a negative net margin of 17.63% and a negative return on equity of 20.26%.

Wall Street Analyst Weigh In

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

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.