Gaotu Techedu (NYSE:GOTU) Stock Price Up 9.2% – Time to Buy?

Gaotu Techedu Inc. (NYSE:GOTU)’s share price traded up 9.2% during trading on Friday . The company traded as high as $2.06 and last traded at $2.09. 1,250,889 shares were traded during trading, a decline of 33% from the average session volume of 1,875,716 shares. The stock had previously closed at $1.91.

Gaotu Techedu Stock Up 14.9 %

The stock has a 50-day moving average of $2.34 and a 200 day moving average of $3.23. The stock has a market cap of $569.76 million, a PE ratio of -3.85 and a beta of 0.03.

Gaotu Techedu (NYSE:GOTU) last released its quarterly earnings data 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

A number of institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. grew its holdings in Gaotu Techedu by 14.9% during the third quarter. JPMorgan Chase & Co. now owns 832,996 shares of the company’s stock worth $3,265,000 after acquiring an additional 108,224 shares during the period. Millennium Management LLC grew its stake in shares of Gaotu Techedu by 1,233.8% during the 2nd quarter. Millennium Management LLC now owns 579,011 shares of the company’s stock worth $2,837,000 after purchasing an additional 535,601 shares during the period. State Street Corp grew its stake in shares of Gaotu Techedu by 20.7% during the 3rd 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. BRIGHT VALLEY CAPITAL Ltd purchased a new position in shares of Gaotu Techedu during the 2nd quarter valued at approximately $2,450,000. Finally, Pinpoint Asset Management Ltd lifted its stake in shares of Gaotu Techedu by 14.3% in the 3rd quarter. Pinpoint Asset Management Ltd now owns 229,445 shares of the company’s stock valued at $899,000 after purchasing an additional 28,776 shares during the period. Hedge funds and other 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.