Gaotu Techedu (NYSE:GOTU) Shares Gap Down – Should You Sell?

Gaotu Techedu Inc. (NYSE:GOTU) shares gapped down prior to trading on Tuesday . The stock had previously closed at $3.23, but opened at $3.13. Gaotu Techedu shares last traded at $3.23, with a volume of 628,966 shares traded.

Gaotu Techedu Stock Down 1.7 %

The firm has a market capitalization of $824.13 million, a P/E ratio of -5.57 and a beta of 0.10. The business’s 50-day simple moving average is $2.80 and its 200 day simple moving average is $2.82.

Hedge Funds Weigh In On Gaotu Techedu

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Barclays PLC grew its holdings in Gaotu Techedu by 87.8% in the 3rd quarter. Barclays PLC now owns 73,008 shares of the company’s stock worth $286,000 after acquiring an additional 34,133 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Gaotu Techedu by 14.9% during the third quarter. JPMorgan Chase & Co. now owns 832,996 shares of the company’s stock valued at $3,265,000 after buying an additional 108,224 shares during the period. State Street Corp increased its stake in shares of Gaotu Techedu by 20.7% during the third quarter. State Street Corp now owns 525,166 shares of the company’s stock valued at $2,059,000 after buying an additional 90,115 shares during the period. Garden State Investment Advisory Services LLC bought a new position in shares of Gaotu Techedu during the third quarter valued at approximately $337,000. Finally, Catalyst Funds Management Pty Ltd purchased a new stake in Gaotu Techedu in the fourth quarter worth $38,000. 48.42% of the stock is currently 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.