Gaotu Techedu (NYSE:GOTU) Trading 6.5% Higher – Here’s Why

Shares of Gaotu Techedu Inc. (NYSE:GOTU) traded up 6.5% during mid-day trading on Friday . The company traded as high as $2.78 and last traded at $2.74. 1,825,547 shares were traded during trading, a decline of 15% from the average session volume of 2,150,472 shares. The stock had previously closed at $2.57.

Gaotu Techedu Trading Up 4.1 %

The stock has a market capitalization of $694.35 million, a P/E ratio of -4.69 and a beta of 0.06. The stock has a 50 day moving average of $2.27 and a 200-day moving average of $2.91.

Gaotu Techedu (NYSE:GOTU) last issued 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 Investors Weigh In On Gaotu Techedu

A number of institutional investors and hedge funds have recently modified their holdings of GOTU. GSA Capital Partners LLP lifted 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 during the last quarter. Garden State Investment Advisory Services LLC purchased a new position in Gaotu Techedu during the 3rd quarter worth $337,000. Pinpoint Asset Management Ltd increased 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 worth $899,000 after purchasing an additional 28,776 shares during the period. State Street Corp increased its holdings in Gaotu Techedu by 20.7% during the 3rd quarter. State Street Corp now owns 525,166 shares of the company’s stock worth $2,059,000 after purchasing an additional 90,115 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new position in Gaotu Techedu during the 3rd quarter worth $38,000. 48.42% of the stock is owned by institutional investors.

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.