Gaotu Techedu (NYSE:GOTU) Stock Price Down 4.3% – Time to Sell?

Gaotu Techedu Inc. (NYSE:GOTU) dropped 4.3% during trading on Monday . The stock traded as low as $3.55 and last traded at $3.57. Approximately 399,566 shares traded hands during trading, a decline of 89% from the average daily volume of 3,621,831 shares. The stock had previously closed at $3.73.

Wall Street Analysts Forecast Growth

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

Gaotu Techedu Stock Performance

The business’s 50 day moving average price is $3.60 and its 200 day moving average price is $5.11. The firm has a market cap of $912.24 million, a price-to-earnings ratio of -44.13 and a beta of -0.01.

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

Institutional Trading of Gaotu Techedu

Several institutional investors have recently bought and sold shares of GOTU. Goldman Sachs Group Inc. raised its position in shares of 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 worth $25,333,000 after purchasing an additional 6,733,849 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Gaotu Techedu by 97.8% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,365,100 shares of the company’s stock worth $15,491,000 after buying an additional 1,169,300 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in shares of Gaotu Techedu during the first quarter valued at approximately $6,360,000. Millennium Management LLC lifted its position in shares of Gaotu Techedu by 1,233.8% in the second quarter. Millennium Management LLC now owns 579,011 shares of the company’s stock valued at $2,837,000 after acquiring an additional 535,601 shares in the last quarter. Finally, BRIGHT VALLEY CAPITAL Ltd acquired a new stake in shares of Gaotu Techedu in the second quarter worth approximately $2,450,000. 48.42% of the stock is owned by institutional investors and hedge funds.

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.