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

Gaotu Techedu Inc. (NYSE:GOTU) was the recipient of a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 8,670,000 shares, a drop of 9.4% from the October 15th total of 9,570,000 shares. Currently, 5.8% of the company’s shares are sold short. Based on an average trading volume of 2,680,000 shares, the days-to-cover ratio is presently 3.2 days.

Gaotu Techedu Stock Up 0.4 %

Shares of GOTU stock traded up $0.01 during trading hours on Tuesday, hitting $2.60. 581,064 shares of the company were exchanged, compared to its average volume of 3,395,412. The firm has a fifty day moving average of $3.17 and a 200 day moving average of $4.46. Gaotu Techedu has a 1 year low of $2.30 and a 1 year high of $8.44. The firm has a market cap of $674.88 million, a PE ratio of -7.62 and a beta of 0.02.

Gaotu Techedu (NYSE:GOTU) last posted its quarterly earnings results on Tuesday, August 27th. The company reported ($0.23) earnings per share for the quarter. Gaotu Techedu had a negative return on equity of 20.26% and a negative net margin of 17.63%. The company had revenue of $138.95 million for the quarter.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Gaotu Techedu

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barclays PLC lifted its position in Gaotu Techedu by 87.8% during the third quarter. Barclays PLC now owns 73,008 shares of the company’s stock valued at $286,000 after buying an additional 34,133 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Gaotu Techedu during the 3rd quarter worth $38,000. State Street Corp increased its holdings in Gaotu Techedu by 20.7% in the 3rd quarter. State Street Corp now owns 525,166 shares of the company’s stock valued at $2,059,000 after purchasing an additional 90,115 shares in the last quarter. Pinpoint Asset Management Ltd raised its position in Gaotu Techedu by 14.3% in the third quarter. Pinpoint Asset Management Ltd now owns 229,445 shares of the company’s stock valued at $899,000 after purchasing an additional 28,776 shares during the period. Finally, Garden State Investment Advisory Services LLC acquired a new stake in shares of Gaotu Techedu in the third quarter valued at about $337,000. 48.42% of the stock is currently owned by institutional investors and hedge funds.

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.