Gaotu Techedu (NYSE:GOTU) Reaches New 1-Year Low – What’s Next?

Gaotu Techedu Inc. (NYSE:GOTU) reached a new 52-week low on Thursday . The company traded as low as $2.36 and last traded at $2.37, with a volume of 1253242 shares changing hands. The stock had previously closed at $2.44.

Analysts Set New Price Targets

Separately, Citigroup lowered Gaotu Techedu from a “buy” rating to a “sell” rating in a research report on Tuesday, August 27th.

Gaotu Techedu Trading Down 2.9 %

The business’s 50-day simple moving average is $2.87 and its two-hundred day simple moving average is $3.80. The firm has a market cap of $615.18 million, a price-to-earnings ratio of -4.16 and a beta of -0.01.

Hedge Funds Weigh In On Gaotu Techedu

A number of hedge funds have recently bought and sold shares of GOTU. SG Americas Securities LLC bought a new stake in Gaotu Techedu during the second quarter valued at $75,000. National Bank of Canada FI bought a new stake in shares of Gaotu Techedu during the 2nd quarter valued at about $2,135,000. Headlands Technologies LLC grew its stake in Gaotu Techedu by 1,362.7% during the second quarter. Headlands Technologies LLC now owns 141,718 shares of the company’s stock worth $694,000 after purchasing an additional 132,029 shares during the period. Jupiter Asset Management Ltd. acquired a new stake in Gaotu Techedu during the second quarter worth approximately $693,000. Finally, Marshall Wace LLP increased its holdings in Gaotu Techedu by 158.2% in the second quarter. Marshall Wace LLP now owns 77,562 shares of the company’s stock worth $380,000 after purchasing an additional 47,522 shares in the last quarter. Institutional investors own 48.42% of the company’s stock.

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.