Gaotu Techedu (NYSE:GOTU) Trading 6.5% Higher – Time to Buy?

Shares of Gaotu Techedu Inc. (NYSE:GOTU) were up 6.5% on Friday . The stock traded as high as $2.78 and last traded at $2.74. Approximately 1,825,547 shares traded hands during trading, a decline of 15% from the average daily volume of 2,150,472 shares. The stock had previously closed at $2.57.

Gaotu Techedu Price Performance

The company has a market cap of $691.75 million, a P/E ratio of -4.68 and a beta of 0.06. The stock has a 50-day moving average of $2.27 and a 200 day moving average of $2.89.

Gaotu Techedu (NYSE:GOTU) last issued its quarterly earnings results on Wednesday, December 4th. The company reported ($0.26) EPS for the quarter. Gaotu Techedu had a negative return on equity of 37.79% and a negative net margin of 26.36%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Public Employees Retirement System of Ohio bought a new position in shares of Gaotu Techedu in the third quarter worth $38,000. Catalyst Funds Management Pty Ltd bought a new position in shares of Gaotu Techedu in the fourth quarter worth $38,000. Two Sigma Advisers LP bought a new position in Gaotu Techedu in the fourth quarter valued at about $41,000. Pinpoint Asset Management Ltd grew its position in Gaotu Techedu by 14.3% in the third quarter. Pinpoint Asset Management Ltd now owns 229,445 shares of the company’s stock valued at $899,000 after acquiring an additional 28,776 shares during the last quarter. Finally, Barclays PLC grew its position in Gaotu Techedu by 87.8% in the third quarter. Barclays PLC now owns 73,008 shares of the company’s stock valued at $286,000 after acquiring an additional 34,133 shares during the last quarter. Institutional investors own 48.42% of the company’s stock.

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.