Gaotu Techedu (NYSE:GOTU) Shares Gap Up – Should You Buy?

Gaotu Techedu Inc. (NYSE:GOTU) shares gapped up before the market opened on Monday . The stock had previously closed at $2.43, but opened at $2.68. Gaotu Techedu shares last traded at $2.65, with a volume of 1,624,862 shares trading hands.

Analyst Ratings Changes

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

Gaotu Techedu Stock Up 12.8 %

The stock’s 50 day moving average price is $3.10 and its 200-day moving average price is $3.99. The stock has a market capitalization of $711.22 million, a PE ratio of -4.65 and a beta of -0.01.

Institutional Investors Weigh In On Gaotu Techedu

Several large investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio purchased a new position in shares of Gaotu Techedu during the third quarter worth approximately $38,000. SG Americas Securities LLC bought a new position in Gaotu Techedu in the second quarter worth approximately $75,000. Pinpoint Asset Management Ltd increased its holdings in Gaotu Techedu by 14.3% during the 3rd quarter. Pinpoint Asset Management Ltd now owns 229,445 shares of the company’s stock worth $899,000 after purchasing an additional 28,776 shares during the period. Barclays PLC raised its position in Gaotu Techedu by 87.8% during the 3rd quarter. Barclays PLC now owns 73,008 shares of the company’s stock valued at $286,000 after purchasing an additional 34,133 shares in the last quarter. Finally, Marshall Wace LLP lifted its holdings in shares of Gaotu Techedu by 158.2% in the 2nd quarter. Marshall Wace LLP now owns 77,562 shares of the company’s stock worth $380,000 after buying an additional 47,522 shares during the period. 48.42% of the stock is owned by hedge funds and other institutional investors.

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.