Gaotu Techedu (NYSE:GOTU) Sees Large Volume Increase – Here’s Why

Gaotu Techedu Inc. (NYSE:GOTU) shares saw unusually-high trading volume on Friday . Approximately 1,934,373 shares changed hands during mid-day trading, an increase of 3% from the previous session’s volume of 1,875,986 shares.The stock last traded at $2.78 and had previously closed at $2.82.

Gaotu Techedu Stock Performance

The stock’s fifty day moving average is $2.25 and its two-hundred day moving average is $2.98. The firm has a market cap of $715.12 million, a price-to-earnings ratio of -4.83 and a beta of 0.06.

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

Hedge Funds Weigh In On Gaotu Techedu

Several large investors have recently made changes to their positions in GOTU. Public Employees Retirement System of Ohio acquired a new position in shares of Gaotu Techedu in the third quarter worth about $38,000. Catalyst Funds Management Pty Ltd acquired a new position in shares of Gaotu Techedu in the fourth quarter worth about $38,000. Barclays PLC boosted its holdings in shares of Gaotu Techedu by 87.8% in 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 during the period. Garden State Investment Advisory Services LLC acquired a new position in shares of Gaotu Techedu in the third quarter worth about $337,000. Finally, SG Americas Securities LLC boosted its holdings in shares of Gaotu Techedu by 473.6% in the third quarter. SG Americas Securities LLC now owns 88,231 shares of the company’s stock worth $346,000 after buying an additional 72,849 shares during the period. Institutional investors 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.