Short Interest in Gaotu Techedu Inc. (NYSE:GOTU) Increases By 7.6%

Gaotu Techedu Inc. (NYSE:GOTU) was the recipient of a significant increase in short interest during the month of September. As of September 30th, there was short interest totalling 9,660,000 shares, an increase of 7.6% from the September 15th total of 8,980,000 shares. Based on an average trading volume of 2,570,000 shares, the short-interest ratio is currently 3.8 days. Currently, 6.5% of the shares of the stock are short sold.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Gaotu Techedu

Hedge funds have recently added to or reduced their stakes in the business. Headlands Technologies LLC acquired a new position in Gaotu Techedu in the 1st quarter valued at approximately $63,000. SG Americas Securities LLC bought a new stake in shares of Gaotu Techedu in the second quarter worth $75,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Gaotu Techedu in the first quarter valued at $99,000. Virtu Financial LLC bought a new position in Gaotu Techedu during the 1st quarter worth $133,000. Finally, Marshall Wace LLP lifted its holdings in Gaotu Techedu by 158.2% during the 2nd quarter. Marshall Wace LLP now owns 77,562 shares of the company’s stock worth $380,000 after buying an additional 47,522 shares during the period. 48.42% of the stock is currently owned by institutional investors and hedge funds.

Gaotu Techedu Stock Performance

Shares of GOTU opened at $3.15 on Friday. The stock has a market capitalization of $814.04 million, a price-to-earnings ratio of -39.38 and a beta of -0.01. Gaotu Techedu has a 52 week low of $2.22 and a 52 week high of $8.44. The stock has a fifty day moving average of $3.50 and a 200-day moving average of $5.04.

Gaotu Techedu (NYSE:GOTU) last posted its earnings results 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%.

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.