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

Gaotu Techedu Inc. (NYSE:GOTU)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $2.98, but opened at $2.60. Gaotu Techedu shares last traded at $2.59, with a volume of 2,247,253 shares traded.

Analysts Set New Price Targets

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

Gaotu Techedu Trading Down 12.4 %

The company has a market capitalization of $677.48 million, a P/E ratio of -7.65 and a beta of -0.01. The company’s 50 day moving average is $3.15 and its 200-day moving average is $4.09.

Institutional Trading of Gaotu Techedu

A number of institutional investors and hedge funds have recently bought and sold shares of GOTU. Virtu Financial LLC bought a new stake in Gaotu Techedu during the 1st quarter valued at about $133,000. SG Americas Securities LLC bought a new stake in shares of Gaotu Techedu in the second quarter worth approximately $75,000. National Bank of Canada FI bought a new stake in shares of Gaotu Techedu in the second quarter worth approximately $2,135,000. Headlands Technologies LLC grew its stake in shares of Gaotu Techedu by 1,362.7% in the second quarter. Headlands Technologies LLC now owns 141,718 shares of the company’s stock worth $694,000 after acquiring an additional 132,029 shares during the period. Finally, Jupiter Asset Management Ltd. bought a new stake in shares of Gaotu Techedu in the second quarter worth approximately $693,000. 48.42% of the stock is currently owned by institutional investors.

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.