Gaotu Techedu (NYSE:GOTU) Hits New 1-Year Low – Here’s What Happened

Gaotu Techedu Inc. (NYSE:GOTU) hit a new 52-week low during trading on Friday . The company traded as low as $2.27 and last traded at $2.30, with a volume of 161202 shares trading hands. The stock had previously closed at $2.32.

Gaotu Techedu Trading Down 3.4 %

The firm has a 50-day simple moving average of $2.72 and a two-hundred day simple moving average of $3.65. The company has a market capitalization of $581.44 million, a price-to-earnings ratio of -3.93 and a beta of -0.01.

Hedge Funds Weigh In On Gaotu Techedu

A number of hedge funds have recently added to or reduced their stakes in GOTU. Public Employees Retirement System of Ohio bought a new stake in Gaotu Techedu in the third quarter worth $38,000. Pinpoint Asset Management Ltd boosted its stake in shares of Gaotu Techedu by 14.3% during the 3rd quarter. Pinpoint Asset Management Ltd now owns 229,445 shares of the company’s stock worth $899,000 after acquiring an additional 28,776 shares in the last quarter. Barclays PLC increased its holdings in shares of Gaotu Techedu by 87.8% during the 3rd quarter. Barclays PLC now owns 73,008 shares of the company’s stock valued at $286,000 after acquiring an additional 34,133 shares during the last quarter. Marshall Wace LLP raised its stake in shares of Gaotu Techedu by 158.2% in the 2nd quarter. Marshall Wace LLP now owns 77,562 shares of the company’s stock valued at $380,000 after acquiring an additional 47,522 shares in the last quarter. Finally, GSA Capital Partners LLP lifted its holdings in Gaotu Techedu by 249.7% in the 3rd quarter. GSA Capital Partners LLP now owns 90,881 shares of the company’s stock worth $356,000 after purchasing an additional 64,896 shares during 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.