Short Interest in Gaotu Techedu Inc. (NYSE:GOTU) Declines By 9.4%

Gaotu Techedu Inc. (NYSE:GOTU - Get Free Report) was the recipient of a significant decrease in short interest during the month of October. As of October 31st, there was short interest totalling 8,670,000 shares, a decrease of 9.4% from the October 15th total of 9,570,000 shares. Based on an average daily volume of 2,680,000 shares, the short-interest ratio is presently 3.2 days. Approximately 5.8% of the company's shares are short sold.

Analysts Set New Price Targets

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

Gaotu Techedu Stock Up 0.4 %

Shares of NYSE GOTU traded up $0.01 during midday trading on Tuesday, hitting $2.60. The stock had a trading volume of 668,787 shares, compared to its average volume of 3,396,070. The company has a fifty day moving average price of $3.16 and a 200 day moving average price of $4.43. The company has a market capitalization of $674.88 million, a price-to-earnings ratio of -7.65 and a beta of 0.02. Gaotu Techedu has a 1-year low of $2.30 and a 1-year high of $8.44.

Gaotu Techedu (NYSE:GOTU - Get Free Report) last released its quarterly earnings data on Tuesday, August 27th. The company reported ($0.23) earnings per share (EPS) for the quarter. Gaotu Techedu had a negative return on equity of 20.26% and a negative net margin of 17.63%. The business had revenue of $138.95 million for the quarter.

Institutional Trading of Gaotu Techedu

Several large investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio purchased a new stake in shares of Gaotu Techedu in the third quarter worth about $38,000. SG Americas Securities LLC purchased a new position in Gaotu Techedu in the 2nd quarter worth approximately $75,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Gaotu Techedu in the first quarter valued at approximately $99,000. Virtu Financial LLC purchased a new stake in shares of Gaotu Techedu during the first quarter valued at approximately $133,000. Finally, Barclays PLC lifted 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 purchasing an additional 34,133 shares in the last quarter. 48.42% of the stock is currently owned by institutional investors and hedge funds.

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.