Gaotu Techedu (NYSE:GOTU) Cut to “Sell” at Citigroup

Citigroup cut shares of Gaotu Techedu (NYSE:GOTU) from a buy rating to a sell rating in a report issued on Tuesday morning, Marketbeat Ratings reports.

Gaotu Techedu Stock Down 18.9 %

NYSE GOTU opened at $3.31 on Tuesday. Gaotu Techedu has a 52 week low of $2.22 and a 52 week high of $8.44. The business’s fifty day simple moving average is $4.77 and its 200-day simple moving average is $5.90. The firm has a market cap of $855.39 million and a PE ratio of -41.38.

Institutional Trading of Gaotu Techedu

Several institutional investors and hedge funds have recently bought and sold shares of GOTU. Headlands Technologies LLC purchased a new stake in Gaotu Techedu in the 1st quarter valued at about $63,000. SG Americas Securities LLC purchased a new stake in Gaotu Techedu during the second quarter worth about $75,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Gaotu Techedu during the first quarter worth about $99,000. Virtu Financial LLC purchased a new stake in Gaotu Techedu during the first quarter worth about $133,000. Finally, Jump Financial LLC purchased a new stake in Gaotu Techedu during the fourth quarter worth about $313,000. 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.