Gaotu Techedu (NYSE:GOTU) Trading Up 5.5% - Here's What Happened

Gaotu Techedu Inc. (NYSE:GOTU - Get Free Report)'s stock price traded up 5.5% during trading on Friday . The company traded as high as $3.69 and last traded at $3.73. 274,341 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 2,798,874 shares. The stock had previously closed at $3.53.

Gaotu Techedu Trading Up 2.1 %

The firm has a market capitalization of $935.75 million, a PE ratio of -6.32 and a beta of 0.10. The business's 50 day simple moving average is $2.46 and its 200 day simple moving average is $2.81.

Gaotu Techedu (NYSE:GOTU - Get Free Report) last released 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%.

Hedge Funds Weigh In On Gaotu Techedu

A number of large investors have recently made changes to their positions in GOTU. Public Employees Retirement System of Ohio bought a new stake in Gaotu Techedu during the 3rd quarter valued at about $38,000. Catalyst Funds Management Pty Ltd bought a new stake in Gaotu Techedu during the 4th quarter valued at about $38,000. Two Sigma Advisers LP bought a new stake in Gaotu Techedu during the 4th quarter valued at about $41,000. Pinpoint Asset Management Ltd lifted its holdings in Gaotu Techedu by 14.3% during the 3rd quarter. Pinpoint Asset Management Ltd now owns 229,445 shares of the company's stock valued at $899,000 after buying an additional 28,776 shares in the last quarter. Finally, Barclays PLC lifted its holdings in Gaotu Techedu by 87.8% during the 3rd quarter. Barclays PLC now owns 73,008 shares of the company's stock valued at $286,000 after buying an additional 34,133 shares in the last quarter. 48.42% of the stock is owned by hedge funds and other institutional investors.

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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.