Gaotu Techedu (NYSE:GOTU) Stock Price Down 5% – Here’s Why

Gaotu Techedu Inc. (NYSE:GOTU) was down 5% during trading on Tuesday . The company traded as low as $1.96 and last traded at $1.99. Approximately 1,005,959 shares changed hands during mid-day trading, a decline of 40% from the average daily volume of 1,664,770 shares. The stock had previously closed at $2.09.

Gaotu Techedu Trading Down 6.5 %

The stock has a market capitalization of $507.46 million, a price-to-earnings ratio of -3.43 and a beta of 0.03. The company’s 50 day moving average is $2.40 and its 200 day moving average is $3.30.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Marshall Wace LLP boosted its stake in Gaotu Techedu by 158.2% during the 2nd quarter. Marshall Wace LLP now owns 77,562 shares of the company’s stock worth $380,000 after purchasing an additional 47,522 shares during the period. Millennium Management LLC boosted its stake in shares of Gaotu Techedu by 1,233.8% during the second quarter. Millennium Management LLC now owns 579,011 shares of the company’s stock worth $2,837,000 after buying an additional 535,601 shares during the period. BRIGHT VALLEY CAPITAL Ltd acquired a new position in Gaotu Techedu in the 2nd quarter valued at about $2,450,000. SG Americas Securities LLC raised its stake in Gaotu Techedu by 473.6% during the 3rd quarter. SG Americas Securities LLC now owns 88,231 shares of the company’s stock valued at $346,000 after acquiring an additional 72,849 shares during the last quarter. Finally, GSA Capital Partners LLP lifted its position in 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 period. Institutional investors and hedge funds own 48.42% of the company’s stock.

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.