Short Interest in Gaotu Techedu Inc. (NYSE:GOTU) Drops By 23.5%

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

Gaotu Techedu Stock Performance

Shares of GOTU stock traded down $0.29 on Tuesday, reaching $2.97. 4,306,593 shares of the company’s stock traded hands, compared to its average volume of 2,387,273. The company has a market capitalization of $769.63 million, a P/E ratio of -5.20 and a beta of 0.10. Gaotu Techedu has a 12-month low of $1.87 and a 12-month high of $8.44. The business’s 50 day moving average price is $2.94 and its two-hundred day moving average price is $2.84.

Institutional Investors Weigh In On Gaotu Techedu

Hedge funds and other institutional investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio acquired a new position in shares of Gaotu Techedu during the 3rd quarter valued at about $38,000. Catalyst Funds Management Pty Ltd acquired a new stake in Gaotu Techedu in the 4th quarter worth approximately $38,000. Two Sigma Advisers LP bought a new stake in Gaotu Techedu during the fourth quarter worth approximately $41,000. Pinpoint Asset Management Ltd grew its holdings in Gaotu Techedu by 14.3% during 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 last quarter. Finally, Barclays PLC raised its position in shares of Gaotu Techedu by 87.8% in the third quarter. Barclays PLC now owns 73,008 shares of the company’s stock valued at $286,000 after purchasing an additional 34,133 shares during the period. 48.42% of the stock is owned by hedge funds and other 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.