Gaotu Techedu (NYSE:GOTU) Trading 4.9% Higher – Time to Buy?

Gaotu Techedu Inc. (NYSE:GOTU) shares traded up 4.9% during mid-day trading on Thursday . The stock traded as high as $3.28 and last traded at $3.32. 691,213 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 2,343,332 shares. The stock had previously closed at $3.16.

Gaotu Techedu Trading Up 4.3 %

The stock has a market cap of $855.28 million, a price-to-earnings ratio of -5.84 and a beta of 0.10. The company has a 50 day simple moving average of $2.84 and a 200-day simple moving average of $2.82.

Institutional Investors Weigh In On Gaotu Techedu

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Gaotu Techedu in the fourth quarter valued at approximately $3,583,000. Marshall Wace LLP bought a new position in Gaotu Techedu in the fourth quarter valued at $781,000. Point72 Asset Management L.P. bought a new position in Gaotu Techedu in the fourth quarter valued at $343,000. Barclays PLC increased its stake in Gaotu Techedu by 195.8% in the 4th quarter. Barclays PLC now owns 215,982 shares of the company’s stock valued at $473,000 after buying an additional 142,974 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Gaotu Techedu by 14.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 832,996 shares of the company’s stock worth $3,265,000 after buying an additional 108,224 shares in the last quarter. Institutional investors and hedge funds own 48.42% of the company’s stock.

About Gaotu Techedu

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.