Gaotu Techedu (NYSE:GOTU) Shares Gap Down to $3.05

Gaotu Techedu Inc. (NYSE:GOTU) gapped down prior to trading on Wednesday . The stock had previously closed at $3.05, but opened at $2.94. Gaotu Techedu shares last traded at $2.98, with a volume of 234,757 shares changing hands.

Wall Street Analyst Weigh In

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

Gaotu Techedu Stock Down 3.9 %

The company has a market cap of $760.54 million, a price-to-earnings ratio of -37.13 and a beta of -0.02. The stock’s 50-day simple moving average is $3.85 and its 200 day simple moving average is $5.43.

Gaotu Techedu (NYSE:GOTU) last posted its earnings results on Tuesday, August 27th. The company reported ($0.23) earnings per share for the quarter. The company 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%.

Hedge Funds Weigh In On Gaotu Techedu

Several institutional investors have recently bought and sold shares of the company. Headlands Technologies LLC purchased a new position in Gaotu Techedu in the 1st quarter valued at approximately $63,000. SG Americas Securities LLC purchased a new position in Gaotu Techedu in the second quarter valued at $75,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Gaotu Techedu during the 1st quarter worth $99,000. Virtu Financial LLC acquired a new position in Gaotu Techedu during the 1st quarter worth $133,000. Finally, Marshall Wace LLP increased 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 purchasing an additional 47,522 shares during the period. 48.42% of the stock is owned by institutional investors and hedge funds.

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.