Gaotu Techedu (NYSE:GOTU) Shares Gap Down to $4.03

Shares of Gaotu Techedu Inc. (NYSE:GOTU) gapped down before the market opened on Thursday . The stock had previously closed at $4.03, but opened at $3.83. Gaotu Techedu shares last traded at $3.86, with a volume of 1,125,902 shares trading hands.

Analyst Ratings Changes

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

Gaotu Techedu Trading Down 5.2 %

The company has a market cap of $987.19 million, a price-to-earnings ratio of -47.50 and a beta of -0.02. The stock has a 50-day simple moving average of $3.71 and a 200-day simple moving average of $5.29.

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

Institutional Investors Weigh In On Gaotu Techedu

Institutional investors and hedge funds have recently modified their holdings of the stock. BRIGHT VALLEY CAPITAL Ltd acquired a new position in Gaotu Techedu in the 2nd quarter valued at approximately $2,450,000. Millennium Management LLC increased its stake in shares of Gaotu Techedu by 1,233.8% in the second quarter. Millennium Management LLC now owns 579,011 shares of the company’s stock worth $2,837,000 after acquiring an additional 535,601 shares during the last quarter. Marshall Wace LLP raised its holdings in shares of Gaotu Techedu by 158.2% during the second quarter. Marshall Wace LLP now owns 77,562 shares of the company’s stock worth $380,000 after acquiring an additional 47,522 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new stake in Gaotu Techedu during the second quarter valued at $693,000. Finally, Headlands Technologies LLC grew its stake in Gaotu Techedu by 1,362.7% in the second quarter. Headlands Technologies LLC now owns 141,718 shares of the company’s stock valued at $694,000 after purchasing an additional 132,029 shares in the last quarter. 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.