Gaotu Techedu (NYSE:GOTU) Shares Gap Up – Time to Buy?

Shares of Gaotu Techedu Inc. (NYSE:GOTU) gapped up before the market opened on Tuesday . The stock had previously closed at $2.63, but opened at $2.84. Gaotu Techedu shares last traded at $2.80, with a volume of 496,908 shares.

Gaotu Techedu Stock Performance

The firm’s 50-day moving average price is $3.09 and its two-hundred day moving average price is $2.78. The firm has a market cap of $744.97 million, a PE ratio of -5.04 and a beta of 0.18.

Hedge Funds Weigh In On Gaotu Techedu

Hedge funds have recently made changes to their positions in the company. Catalyst Funds Management Pty Ltd acquired a new stake in shares of Gaotu Techedu in the 4th quarter valued at about $38,000. Two Sigma Advisers LP purchased a new position in shares of Gaotu Techedu during the fourth quarter worth approximately $41,000. PFG Investments LLC acquired a new position in shares of Gaotu Techedu in the 1st quarter valued at $76,000. Two Sigma Securities LLC purchased a new position in Gaotu Techedu during the 4th quarter worth $86,000. Finally, Lighthouse Investment Partners LLC purchased a new position in shares of Gaotu Techedu during the fourth quarter worth about $103,000. Hedge funds and other institutional investors own 48.42% of the company’s stock.

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.