Gaotu Techedu (NYSE:GOTU) Trading 6.5% Higher – Time to Buy?

Gaotu Techedu Inc. (NYSE:GOTU)’s share price traded up 6.5% during mid-day trading on Friday . The stock traded as high as $2.78 and last traded at $2.74. 1,825,547 shares traded hands during trading, a decline of 15% from the average session volume of 2,150,472 shares. The stock had previously closed at $2.57.

Gaotu Techedu Stock Performance

The firm has a fifty day simple moving average of $2.27 and a 200-day simple moving average of $2.89. The firm has a market cap of $691.75 million, a price-to-earnings ratio of -4.68 and a beta of 0.06.

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

Institutional Investors Weigh In On Gaotu Techedu

Several hedge funds have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio bought a new position in Gaotu Techedu during the 3rd quarter worth $38,000. Catalyst Funds Management Pty Ltd bought a new position in Gaotu Techedu during the 4th quarter worth $38,000. Two Sigma Advisers LP bought a new position in Gaotu Techedu during the 4th quarter worth $41,000. Pinpoint Asset Management Ltd increased its position 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 buying an additional 28,776 shares during the period. Finally, Barclays PLC increased its position in Gaotu Techedu by 87.8% during the 3rd quarter. Barclays PLC now owns 73,008 shares of the company’s stock worth $286,000 after buying an additional 34,133 shares during the period. Institutional investors and hedge funds own 48.42% of the company’s stock.

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.