Gaotu Techedu (NYSE:GOTU) Shares Gap Up – Here’s What Happened

Gaotu Techedu Inc. (NYSE:GOTU)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $2.53, but opened at $2.62. Gaotu Techedu shares last traded at $2.68, with a volume of 688,523 shares traded.

Gaotu Techedu Trading Up 3.7 %

The business’s 50-day moving average price is $2.25 and its 200-day moving average price is $2.98. The stock has a market cap of $681.11 million, a PE ratio of -4.57 and a beta of 0.06.

Gaotu Techedu (NYSE:GOTU) last released its earnings results on Wednesday, December 4th. The company reported ($0.26) earnings per share for the quarter. Gaotu Techedu had a negative return on equity of 37.79% and a negative net margin of 26.36%.

Institutional Trading of Gaotu Techedu

Several institutional investors and hedge funds have recently bought and sold shares of the business. Public Employees Retirement System of Ohio acquired a new stake in Gaotu Techedu during the 3rd quarter valued at approximately $38,000. Catalyst Funds Management Pty Ltd acquired a new stake in Gaotu Techedu during the 4th quarter valued at approximately $38,000. Pinpoint Asset Management Ltd lifted its stake 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 acquiring an additional 28,776 shares during the period. Barclays PLC lifted its stake 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 acquiring an additional 34,133 shares during the period. Finally, GSA Capital Partners LLP lifted its stake in Gaotu Techedu by 249.7% during the 3rd quarter. GSA Capital Partners LLP now owns 90,881 shares of the company’s stock valued at $356,000 after acquiring an additional 64,896 shares during the period. 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.