Gaotu Techedu (NYSE:GOTU) Shares Gap Down – Here’s What Happened

Gaotu Techedu Inc. (NYSE:GOTU) gapped down before the market opened on Friday . The stock had previously closed at $3.44, but opened at $3.20. Gaotu Techedu shares last traded at $3.41, with a volume of 950,518 shares trading hands.

Gaotu Techedu Price Performance

The stock has a market capitalization of $917.58 million, a P/E ratio of -6.20 and a beta of 0.06. The stock has a 50 day moving average price of $2.32 and a 200-day moving average price of $2.86.

Gaotu Techedu (NYSE:GOTU) last posted its quarterly earnings results on Wednesday, December 4th. The company reported ($0.26) earnings per share (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

Several hedge funds have recently made changes to their positions in GOTU. Norges Bank bought a new stake in Gaotu Techedu in the 4th quarter worth $3,583,000. Marshall Wace LLP purchased a new stake in shares of Gaotu Techedu during the fourth quarter worth about $781,000. Point72 Asset Management L.P. bought a new stake in shares of Gaotu Techedu in the fourth quarter worth about $343,000. Barclays PLC increased its holdings in Gaotu Techedu by 195.8% during the 4th quarter. Barclays PLC now owns 215,982 shares of the company’s stock valued at $473,000 after purchasing an additional 142,974 shares during the period. Finally, JPMorgan Chase & Co. raised its position in Gaotu Techedu by 14.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 832,996 shares of the company’s stock valued at $3,265,000 after purchasing an additional 108,224 shares during the last quarter. 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.