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

Gaotu Techedu Inc. (NYSE:GOTU) saw a significant growth in short interest in the month of September. As of September 30th, there was short interest totalling 9,660,000 shares, a growth of 7.6% from the September 15th total of 8,980,000 shares. Based on an average daily volume of 2,570,000 shares, the short-interest ratio is currently 3.8 days. Approximately 6.5% of the company’s stock are short sold.

Institutional Trading of Gaotu Techedu

A number of institutional investors and hedge funds have recently modified their holdings of the business. Headlands Technologies LLC acquired a new stake in shares of Gaotu Techedu during the first quarter worth $63,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Gaotu Techedu during the first quarter worth $99,000. SG Americas Securities LLC acquired a new stake in shares of Gaotu Techedu during the second quarter worth $75,000. Virtu Financial LLC acquired a new stake in shares of Gaotu Techedu during the first quarter worth $133,000. Finally, Marshall Wace LLP raised its holdings in shares of Gaotu Techedu by 158.2% during the second quarter. Marshall Wace LLP now owns 77,562 shares of the company’s stock worth $380,000 after purchasing an additional 47,522 shares during the period. 48.42% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Gaotu Techedu Price Performance

Shares of NYSE:GOTU remained flat at $3.24 during midday trading on Wednesday. 1,248,282 shares of the company were exchanged, compared to its average volume of 3,613,406. The company’s 50 day simple moving average is $3.55 and its two-hundred day simple moving average is $5.07. The stock has a market cap of $837.30 million, a PE ratio of -40.50 and a beta of -0.01. Gaotu Techedu has a fifty-two week low of $2.22 and a fifty-two week high of $8.44.

Gaotu Techedu (NYSE:GOTU) last issued its quarterly earnings results on Tuesday, August 27th. The company reported ($0.23) earnings per share (EPS) for the quarter. The company had revenue of $138.95 million during the quarter. Gaotu Techedu had a negative return on equity of 20.26% and a negative net margin of 17.63%.

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.