Short Interest in Gaotu Techedu Inc. (NYSE:GOTU) Drops By 9.4%

Gaotu Techedu Inc. (NYSE:GOTU) saw a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 8,670,000 shares, a decline of 9.4% from the October 15th total of 9,570,000 shares. Approximately 5.8% of the shares of the company are sold short. Based on an average daily trading volume, of 2,680,000 shares, the days-to-cover ratio is presently 3.2 days.

Gaotu Techedu Price Performance

GOTU remained flat at $2.59 during midday trading on Tuesday. 422,460 shares of the company’s stock were exchanged, compared to its average volume of 3,394,970. The company’s 50 day moving average is $3.17 and its 200-day moving average is $4.46. Gaotu Techedu has a 1 year low of $2.30 and a 1 year high of $8.44.

Gaotu Techedu (NYSE:GOTU) last posted its earnings results on Tuesday, August 27th. The company reported ($0.23) EPS for the quarter. Gaotu Techedu had a negative return on equity of 20.26% and a negative net margin of 17.63%. The company had revenue of $138.95 million for the quarter.

Institutional Investors Weigh In On Gaotu Techedu

Institutional investors and hedge funds have recently made changes to their positions in the company. Public Employees Retirement System of Ohio bought a new position in Gaotu Techedu during the 3rd quarter valued at about $38,000. SG Americas Securities LLC acquired a new position in shares of Gaotu Techedu in the 2nd quarter worth approximately $75,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Gaotu Techedu during the 1st quarter worth approximately $99,000. Virtu Financial LLC acquired a new stake in Gaotu Techedu during the 1st quarter valued at $133,000. Finally, Barclays PLC raised its position in Gaotu Techedu by 87.8% in the 3rd 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 last quarter. Institutional investors and hedge funds own 48.42% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.