Gaotu Techedu (NYSE:GOTU) Shares Gap Down – Here’s What Happened

Gaotu Techedu Inc. (NYSE:GOTU) gapped down prior to trading on Friday . The stock had previously closed at $3.44, but opened at $3.20. Gaotu Techedu shares last traded at $3.41, with a volume of 950,518 shares.

Gaotu Techedu Trading Up 2.8 %

The company’s fifty day simple moving average is $2.32 and its 200 day simple moving average is $2.86. The stock has a market capitalization of $917.58 million, a P/E ratio of -6.20 and a beta of 0.06.

Gaotu Techedu (NYSE:GOTU) last issued its quarterly earnings data on Wednesday, December 4th. The company reported ($0.26) earnings per share (EPS) for the quarter. Gaotu Techedu had a negative return on equity of 37.79% and a negative net margin of 26.36%.

Institutional Trading of Gaotu Techedu

A number of large investors have recently modified their holdings of the business. Norges Bank purchased a new stake in Gaotu Techedu in the fourth quarter valued at approximately $3,583,000. JPMorgan Chase & Co. increased its holdings in shares of Gaotu Techedu by 14.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 832,996 shares of the company’s stock worth $3,265,000 after buying an additional 108,224 shares during the last quarter. State Street Corp raised its position in shares of Gaotu Techedu by 20.7% during the 3rd quarter. State Street Corp now owns 525,166 shares of the company’s stock valued at $2,059,000 after buying an additional 90,115 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of Gaotu Techedu during the 4th quarter worth $781,000. Finally, Pinpoint Asset Management Ltd grew its position in Gaotu Techedu by 14.3% in the third quarter. Pinpoint Asset Management Ltd now owns 229,445 shares of the company’s stock worth $899,000 after acquiring an additional 28,776 shares in the last quarter. Institutional investors own 48.42% of the company’s stock.

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.