Gaotu Techedu (NYSE:GOTU) Stock Price Down 5.1% – Time to Sell?

Shares of Gaotu Techedu Inc. (NYSE:GOTU) were down 5.1% during trading on Wednesday . The stock traded as low as $2.99 and last traded at $3.00. Approximately 660,689 shares changed hands during trading, a decline of 81% from the average daily volume of 3,570,167 shares. The stock had previously closed at $3.16.

Wall Street Analysts Forecast Growth

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

Gaotu Techedu Trading Down 0.2 %

The stock has a 50-day moving average price of $3.36 and a two-hundred day moving average price of $4.91. The stock has a market cap of $771.40 million, a price-to-earnings ratio of -37.31 and a beta of -0.01.

Gaotu Techedu (NYSE:GOTU) last issued 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 business had revenue of $138.95 million during the quarter.

Institutional Trading of Gaotu Techedu

Several large investors have recently bought and sold shares of GOTU. SG Americas Securities LLC lifted its stake in shares of Gaotu Techedu by 473.6% during the third quarter. SG Americas Securities LLC now owns 88,231 shares of the company’s stock worth $346,000 after buying an additional 72,849 shares during the period. BRIGHT VALLEY CAPITAL Ltd purchased a new position in Gaotu Techedu in the 2nd quarter worth $2,450,000. Millennium Management LLC lifted its position in Gaotu Techedu by 1,233.8% during the 2nd quarter. Millennium Management LLC now owns 579,011 shares of the company’s stock worth $2,837,000 after acquiring an additional 535,601 shares during the period. Marshall Wace LLP grew its stake in Gaotu Techedu by 158.2% during the 2nd quarter. Marshall Wace LLP now owns 77,562 shares of the company’s stock valued at $380,000 after purchasing an additional 47,522 shares during the last quarter. Finally, Jupiter Asset Management Ltd. acquired a new position in shares of Gaotu Techedu in the second quarter valued at about $693,000. 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.