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

Gaotu Techedu Inc. (NYSE:GOTU - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $2.47 and last traded at $2.48, with a volume of 1101625 shares trading hands. The stock had previously closed at $2.55.

Analyst Upgrades and Downgrades

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

Gaotu Techedu Price Performance

The business has a fifty day moving average of $3.10 and a 200-day moving average of $4.03. The stock has a market capitalization of $630.76 million, a price-to-earnings ratio of -4.27 and a beta of -0.01.

Hedge Funds Weigh In On Gaotu Techedu

Several hedge funds have recently made changes to their positions in the business. BRIGHT VALLEY CAPITAL Ltd bought a new stake in Gaotu Techedu during the second quarter worth approximately $2,450,000. GSA Capital Partners LLP boosted its stake in shares of Gaotu Techedu by 249.7% during the 3rd quarter. GSA Capital Partners LLP now owns 90,881 shares of the company's stock worth $356,000 after acquiring an additional 64,896 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Gaotu Techedu by 1,233.8% in the 2nd 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 grew its holdings in shares of Gaotu Techedu by 158.2% in the 2nd quarter. Marshall Wace LLP now owns 77,562 shares of the company's stock worth $380,000 after acquiring an additional 47,522 shares during the last quarter. Finally, National Bank of Canada FI purchased a new stake in shares of Gaotu Techedu during the second quarter valued at $2,135,000. Institutional investors and hedge funds own 48.42% of the company's stock.

Gaotu Techedu Company Profile

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.