Gaotu Techedu (NYSE:GOTU) Stock Price Up 7.2% – Here’s What Happened

Gaotu Techedu Inc. (NYSE:GOTU) rose 7.2% during mid-day trading on Friday . The company traded as high as $3.90 and last traded at $3.71. Approximately 1,438,368 shares changed hands during trading, a decline of 38% from the average daily volume of 2,338,147 shares. The stock had previously closed at $3.46.

Gaotu Techedu Price Performance

The stock has a market capitalization of $940.94 million, a price-to-earnings ratio of -6.36 and a beta of 0.10. The business’s fifty day moving average price is $2.57 and its 200-day moving average price is $2.80.

Institutional Trading of Gaotu Techedu

Several hedge funds have recently added to or reduced their stakes in GOTU. Barclays PLC raised its position in shares of Gaotu Techedu by 87.8% in the third quarter. Barclays PLC now owns 73,008 shares of the company’s stock valued at $286,000 after purchasing an additional 34,133 shares during the period. JPMorgan Chase & Co. grew its position in shares of Gaotu Techedu by 14.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 832,996 shares of the company’s stock valued at $3,265,000 after purchasing an additional 108,224 shares in the last quarter. State Street Corp increased its holdings in shares of Gaotu Techedu by 20.7% in the third quarter. State Street Corp now owns 525,166 shares of the company’s stock worth $2,059,000 after purchasing an additional 90,115 shares during the period. GSA Capital Partners LLP increased its holdings in shares of Gaotu Techedu by 249.7% in the third quarter. GSA Capital Partners LLP now owns 90,881 shares of the company’s stock worth $356,000 after purchasing an additional 64,896 shares during the period. Finally, Garden State Investment Advisory Services LLC bought a new position in shares of Gaotu Techedu in the third quarter worth $337,000. 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.