Gaotu Techedu (NYSE:GOTU) Stock Price Up 4.9% – Here’s Why

Gaotu Techedu Inc. (NYSE:GOTU)’s share price shot up 4.9% on Thursday . The company traded as high as $3.28 and last traded at $3.32. 691,213 shares were traded during mid-day trading, a decline of 71% from the average session volume of 2,343,332 shares. The stock had previously closed at $3.16.

Gaotu Techedu Stock Performance

The stock has a market cap of $850.09 million, a P/E ratio of -5.75 and a beta of 0.10. The firm’s 50-day moving average is $2.90 and its two-hundred day moving average is $2.83.

Hedge Funds Weigh In On Gaotu Techedu

Hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank acquired a new position in shares of Gaotu Techedu in the 4th quarter valued at $3,583,000. Marshall Wace LLP acquired a new position in shares of Gaotu Techedu during the 4th quarter worth about $781,000. Point72 Asset Management L.P. bought a new position in shares of Gaotu Techedu during the 4th quarter worth approximately $343,000. Barclays PLC lifted its stake in shares of Gaotu Techedu by 195.8% during the 4th quarter. Barclays PLC now owns 215,982 shares of the company’s stock worth $473,000 after buying an additional 142,974 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Gaotu Techedu by 14.9% in the 3rd 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 in the last quarter. 48.42% of the stock is 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.