Gaotu Techedu (NYSE:GOTU) Reaches New 52-Week Low – Here’s What Happened

Gaotu Techedu Inc. (NYSE:GOTU)’s stock price hit a new 52-week low during trading on Friday . The company traded as low as $2.40 and last traded at $2.41, with a volume of 564181 shares. The stock had previously closed at $2.50.

Analyst Ratings Changes

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 Price Performance

The firm has a 50-day moving average price of $2.99 and a two-hundred day moving average price of $3.92.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Garden State Investment Advisory Services LLC purchased a new stake in shares of Gaotu Techedu during the 3rd quarter worth approximately $337,000. Barclays PLC boosted its position in shares of Gaotu Techedu by 87.8% in the third quarter. Barclays PLC now owns 73,008 shares of the company’s stock worth $286,000 after buying an additional 34,133 shares during the period. Public Employees Retirement System of Ohio purchased a new position in Gaotu Techedu in the 3rd quarter valued at about $38,000. State Street Corp raised its stake in shares of Gaotu Techedu by 20.7% in the 3rd quarter. State Street Corp now owns 525,166 shares of the company’s stock valued at $2,059,000 after purchasing an additional 90,115 shares in the last quarter. Finally, Pinpoint Asset Management Ltd raised its holdings in shares of Gaotu Techedu by 14.3% during the third 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. 48.42% of the stock is owned by hedge funds and other 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.