Gaotu Techedu (NYSE:GOTU) Hits New 52-Week Low – Here’s Why

Gaotu Techedu Inc. (NYSE:GOTU) hit a new 52-week low on Thursday . The stock traded as low as $1.98 and last traded at $1.99, with a volume of 1855458 shares traded. The stock had previously closed at $2.08.

Gaotu Techedu Stock Down 4.3 %

The company has a market capitalization of $516.54 million, a P/E ratio of -3.49 and a beta of 0.03. The business has a 50 day simple moving average of $2.57 and a 200-day simple moving average of $3.50.

Institutional Trading of Gaotu Techedu

Hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. grew its position in Gaotu Techedu by 14.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 832,996 shares of the company’s stock worth $3,265,000 after purchasing an additional 108,224 shares during the last quarter. Millennium Management LLC grew its holdings in Gaotu Techedu by 1,233.8% in the 2nd quarter. Millennium Management LLC now owns 579,011 shares of the company’s stock worth $2,837,000 after buying an additional 535,601 shares in the last quarter. State Street Corp increased its position 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 acquiring an additional 90,115 shares during the period. BRIGHT VALLEY CAPITAL Ltd bought a new stake in Gaotu Techedu during the 2nd quarter valued at $2,450,000. Finally, National Bank of Canada FI acquired a new position in Gaotu Techedu during the 2nd quarter worth $2,135,000. 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.