Gaotu Techedu (NYSE:GOTU) Shares Gap Down - Time to Sell?

Shares of Gaotu Techedu Inc. (NYSE:GOTU - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $2.92, but opened at $2.63. Gaotu Techedu shares last traded at $2.66, with a volume of 272,128 shares traded.

Gaotu Techedu Stock Up 0.9 %

The stock has a 50-day simple moving average of $3.06 and a 200 day simple moving average of $2.83. The company has a market cap of $691.75 million, a PE ratio of -4.68 and a beta of 0.18.

Institutional Investors Weigh In On Gaotu Techedu

Institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp grew its stake in shares of Gaotu Techedu by 20.7% in the third quarter. State Street Corp now owns 525,166 shares of the company's stock worth $2,059,000 after acquiring an additional 90,115 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Gaotu Techedu in the 3rd quarter valued at about $38,000. Barclays PLC grew its position in shares of Gaotu Techedu by 87.8% during the third quarter. Barclays PLC now owns 73,008 shares of the company's stock worth $286,000 after acquiring an additional 34,133 shares during the last quarter. Garden State Investment Advisory Services LLC acquired a new position in Gaotu Techedu in the third quarter valued at $337,000. Finally, JPMorgan Chase & Co. raised its stake 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 acquiring 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.

Remove Ads