Gaotu Techedu (NYSE:GOTU) Trading 4.9% Higher – Time to Buy?

Gaotu Techedu Inc. (NYSE:GOTU)’s stock price rose 4.9% during trading on Thursday . The stock traded as high as $3.28 and last traded at $3.32. Approximately 691,213 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 2,343,332 shares. The stock had previously closed at $3.16.

Gaotu Techedu Stock Performance

The company has a market capitalization of $850.09 million, a price-to-earnings ratio of -5.75 and a beta of 0.10. The firm’s 50 day simple moving average is $2.90 and its 200-day simple moving average is $2.83.

Institutional Investors Weigh In On Gaotu Techedu

Several institutional 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 during the 3rd quarter valued at about $38,000. Catalyst Funds Management Pty Ltd bought a new position in Gaotu Techedu in the fourth quarter worth $38,000. Two Sigma Advisers LP bought a new position in Gaotu Techedu during the fourth quarter worth about $41,000. Two Sigma Securities LLC bought a new stake in Gaotu Techedu in the fourth quarter valued at $86,000. Finally, Lighthouse Investment Partners LLC bought a new stake in shares of Gaotu Techedu in the 4th quarter worth about $103,000. 48.42% of the stock is currently owned by institutional investors and hedge funds.

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.