Gaotu Techedu (NYSE:GOTU) Hits New 1-Year Low – What’s Next?

Gaotu Techedu Inc. (NYSE:GOTU)’s share price hit a new 52-week low during trading on Friday . The stock traded as low as $2.40 and last traded at $2.41, with a volume of 564181 shares traded. The stock had previously closed at $2.50.

Analysts Set New Price Targets

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

Gaotu Techedu Trading Down 2.0 %

The business’s 50-day moving average is $2.99 and its 200-day moving average is $3.92.

Institutional Trading of Gaotu Techedu

Hedge funds have recently modified their holdings of the company. Public Employees Retirement System of Ohio bought a new stake in shares of Gaotu Techedu in the third quarter valued at about $38,000. SG Americas Securities LLC acquired a new position in shares of Gaotu Techedu during the second quarter worth approximately $75,000. Barclays PLC grew its holdings in Gaotu Techedu by 87.8% during the third quarter. Barclays PLC now owns 73,008 shares of the company’s stock worth $286,000 after buying an additional 34,133 shares in the last quarter. Garden State Investment Advisory Services LLC bought a new position in shares of Gaotu Techedu in the third quarter valued at approximately $337,000. Finally, GSA Capital Partners LLP boosted its holdings in shares of Gaotu Techedu by 249.7% in the 3rd quarter. GSA Capital Partners LLP now owns 90,881 shares of the company’s stock worth $356,000 after buying an additional 64,896 shares during the last quarter. 48.42% of the stock is currently owned by institutional investors and hedge funds.

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.