Gaotu Techedu Inc. (NYSE:GOTU) Sees Significant Increase in Short Interest

Gaotu Techedu Inc. (NYSE:GOTU) was the target of a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 10,090,000 shares, an increase of 6.9% from the August 15th total of 9,440,000 shares. Based on an average trading volume of 1,860,000 shares, the short-interest ratio is currently 5.4 days. Approximately 6.8% of the company’s shares are short sold.

Institutional Investors Weigh In On Gaotu Techedu

Several hedge funds have recently modified their holdings of GOTU. Jump Financial LLC purchased a new stake in Gaotu Techedu during the 4th quarter worth $313,000. Tiger Pacific Capital LP bought a new stake in Gaotu Techedu in the fourth quarter valued at $10,665,000. HCEP Management Ltd bought a new stake in Gaotu Techedu in the 4th quarter valued at about $3,620,000. Garden State Investment Advisory Services LLC bought a new stake in shares of Gaotu Techedu during the fourth quarter valued at approximately $1,062,000. Finally, Goldman Sachs Group Inc. raised its stake in Gaotu Techedu by 2,548.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 6,998,033 shares of the company’s stock valued at $25,333,000 after acquiring an additional 6,733,849 shares in the last quarter. 48.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Gaotu Techedu Trading Down 0.7 %

Shares of Gaotu Techedu stock opened at $2.67 on Tuesday. Gaotu Techedu has a twelve month low of $2.22 and a twelve month high of $8.44. The company has a fifty day moving average price of $4.15 and a 200 day moving average price of $5.63. The stock has a market cap of $690.00 million, a price-to-earnings ratio of -33.38 and a beta of -0.02.

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.