Gaotu Techedu (NYSE:GOTU) Hits New 1-Year Low – Here’s What Happened

Gaotu Techedu Inc. (NYSE:GOTU)’s share price hit a new 52-week low during trading on Friday . The company traded as low as $2.27 and last traded at $2.30, with a volume of 161202 shares changing hands. The stock had previously closed at $2.32.

Gaotu Techedu Trading Down 3.0 %

The firm has a market capitalization of $584.03 million, a price-to-earnings ratio of -3.95 and a beta of -0.01. The business’s fifty day moving average price is $2.74 and its 200 day moving average price is $3.68.

Institutional Investors Weigh In On Gaotu Techedu

A number of institutional investors and hedge funds have recently made changes to their positions in GOTU. BRIGHT VALLEY CAPITAL Ltd acquired a new position in Gaotu Techedu in the 2nd quarter valued at about $2,450,000. GSA Capital Partners LLP grew its stake in shares of Gaotu Techedu by 249.7% in the 3rd quarter. GSA Capital Partners LLP now owns 90,881 shares of the company’s stock valued at $356,000 after purchasing an additional 64,896 shares during the last quarter. Millennium Management LLC increased its holdings 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 valued at $2,837,000 after purchasing an additional 535,601 shares during the period. Marshall Wace LLP raised its stake 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 purchasing an additional 47,522 shares during the last quarter. Finally, National Bank of Canada FI acquired a new stake in shares of Gaotu Techedu during the second quarter worth $2,135,000. 48.42% of the stock is 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.