Gaotu Techedu Inc. (NYSE:GOTU) Sees Large Drop in Short Interest

Gaotu Techedu Inc. (NYSE:GOTU) was the recipient of a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 8,670,000 shares, a drop of 9.4% from the October 15th total of 9,570,000 shares. Based on an average daily trading volume, of 2,680,000 shares, the short-interest ratio is currently 3.2 days. Currently, 5.8% of the company’s stock are sold short.

Gaotu Techedu Stock Up 0.4 %

Shares of NYSE:GOTU traded up $0.01 during trading on Tuesday, reaching $2.60. 499,312 shares of the company traded hands, compared to its average volume of 3,395,313. Gaotu Techedu has a 52 week low of $2.30 and a 52 week high of $8.44. The firm has a market capitalization of $674.88 million, a PE ratio of -7.62 and a beta of 0.02. The company’s 50 day moving average is $3.17 and its two-hundred day moving average is $4.46.

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

Institutional Trading of Gaotu Techedu

Institutional investors and hedge funds have recently modified their holdings of the business. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Gaotu Techedu by 97.8% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,365,100 shares of the company’s stock valued at $15,491,000 after purchasing an additional 1,169,300 shares during the period. Millennium Management LLC increased its holdings in Gaotu Techedu by 1,233.8% during the second quarter. Millennium Management LLC now owns 579,011 shares of the company’s stock worth $2,837,000 after buying an additional 535,601 shares during the last quarter. State Street Corp increased its holdings in Gaotu Techedu by 20.7% during the third quarter. State Street Corp now owns 525,166 shares of the company’s stock worth $2,059,000 after buying an additional 90,115 shares during the last quarter. BRIGHT VALLEY CAPITAL Ltd bought a new stake in Gaotu Techedu in the second quarter worth about $2,450,000. Finally, National Bank of Canada FI bought a new position in shares of Gaotu Techedu during the 2nd quarter valued at approximately $2,135,000. 48.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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.