Garden State Investment Advisory Services LLC Invests $337,000 in Gaotu Techedu Inc. (NYSE:GOTU)

Garden State Investment Advisory Services LLC acquired a new stake in shares of Gaotu Techedu Inc. (NYSE:GOTU) during the third quarter, HoldingsChannel reports. The firm acquired 85,850 shares of the company’s stock, valued at approximately $337,000.

Several other institutional investors have also bought and sold shares of GOTU. Public Employees Retirement System of Ohio acquired a new position in Gaotu Techedu during the third quarter worth about $38,000. SG Americas Securities LLC bought a new stake in shares of Gaotu Techedu in the 2nd quarter worth approximately $75,000. Barclays PLC lifted its stake in Gaotu Techedu by 87.8% during 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 last quarter. Marshall Wace LLP lifted its stake in Gaotu Techedu by 158.2% during the second quarter. Marshall Wace LLP now owns 77,562 shares of the company’s stock valued at $380,000 after purchasing an additional 47,522 shares during the last quarter. Finally, GSA Capital Partners LLP boosted its holdings in Gaotu Techedu by 249.7% during the third quarter. GSA Capital Partners LLP now owns 90,881 shares of the company’s stock worth $356,000 after buying an additional 64,896 shares in the last quarter. Institutional investors and hedge funds own 48.42% of the company’s stock.

Gaotu Techedu Trading Down 1.6 %

Shares of GOTU opened at $2.46 on Friday. Gaotu Techedu Inc. has a 1-year low of $2.40 and a 1-year high of $8.44. The stock has a market capitalization of $638.54 million, a P/E ratio of -4.32 and a beta of -0.01. The business’s 50-day moving average price is $2.96 and its 200 day moving average price is $3.89.

Analyst Ratings Changes

Separately, Citigroup downgraded 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.