Gaotu Techedu (NYSE:GOTU) Trading Down 6% – Time to Sell?

Gaotu Techedu Inc. (NYSE:GOTU)’s stock price dropped 6% during trading on Monday . The stock traded as low as $2.81 and last traded at $2.82. Approximately 1,983,928 shares changed hands during trading, a decline of 42% from the average daily volume of 3,448,509 shares. The stock had previously closed at $3.00.

Wall Street Analysts Forecast Growth

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

Gaotu Techedu Trading Down 2.4 %

The firm has a fifty day moving average of $3.20 and a 200 day moving average of $4.58.

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

Institutional Investors Weigh In On Gaotu Techedu

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Headlands Technologies LLC acquired a new position in Gaotu Techedu during the 1st quarter valued at approximately $63,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Gaotu Techedu during the 1st quarter valued at $99,000. SG Americas Securities LLC bought a new stake in Gaotu Techedu during the 2nd quarter valued at $75,000. Virtu Financial LLC bought a new stake in Gaotu Techedu during the 1st quarter valued at $133,000. Finally, Marshall Wace LLP raised its stake in Gaotu Techedu by 158.2% during 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. 48.42% of the stock is currently owned by hedge funds and other institutional investors.

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.