Gaotu Techedu Inc. (NYSE:GOTU) Sees Large Decrease in Short Interest

Gaotu Techedu Inc. (NYSE:GOTU) was the recipient of a significant decrease in short interest during the month of March. As of March 15th, there was short interest totalling 5,970,000 shares, a decrease of 23.5% from the February 28th total of 7,800,000 shares. Based on an average daily trading volume, of 2,680,000 shares, the short-interest ratio is currently 2.2 days. Approximately 4.1% of the company’s stock are short sold.

Gaotu Techedu Stock Performance

Shares of GOTU opened at $3.28 on Monday. The firm has a market cap of $850.09 million, a PE ratio of -5.75 and a beta of 0.10. Gaotu Techedu has a twelve month low of $1.87 and a twelve month high of $8.44. The firm’s 50 day moving average price is $2.90 and its 200 day moving average price is $2.83.

Institutional Investors Weigh In On Gaotu Techedu

Several institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank acquired a new position in Gaotu Techedu during the fourth quarter worth $3,583,000. Marshall Wace LLP acquired a new position in shares of Gaotu Techedu during the 4th quarter valued at about $781,000. Point72 Asset Management L.P. bought a new position in shares of Gaotu Techedu in the 4th quarter valued at approximately $343,000. Barclays PLC lifted its holdings in Gaotu Techedu by 195.8% in the 4th quarter. Barclays PLC now owns 215,982 shares of the company’s stock worth $473,000 after purchasing an additional 142,974 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Gaotu Techedu by 14.9% in the third quarter. JPMorgan Chase & Co. now owns 832,996 shares of the company’s stock worth $3,265,000 after buying an additional 108,224 shares during the last quarter. Institutional investors and hedge funds 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.