Gaotu Techedu (NYSE:GOTU) Hits New 1-Year Low – Here’s What Happened

Gaotu Techedu Inc. (NYSE:GOTU) shares hit a new 52-week low on Thursday . The stock traded as low as $1.98 and last traded at $1.99, with a volume of 1855458 shares traded. The stock had previously closed at $2.08.

Gaotu Techedu Stock Performance

The firm has a market cap of $516.54 million, a PE ratio of -3.49 and a beta of 0.03. The stock has a 50 day simple moving average of $2.52 and a two-hundred day simple moving average of $3.46.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its stake in shares of Gaotu Techedu by 14.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 832,996 shares of the company’s stock worth $3,265,000 after purchasing an additional 108,224 shares during the period. Garden State Investment Advisory Services LLC purchased a new stake in Gaotu Techedu during the third quarter worth $337,000. Barclays PLC grew its position 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 buying an additional 34,133 shares during the period. Public Employees Retirement System of Ohio purchased a new position in Gaotu Techedu in the third quarter valued at $38,000. Finally, State Street Corp raised its position in shares of Gaotu Techedu by 20.7% in the third quarter. State Street Corp now owns 525,166 shares of the company’s stock worth $2,059,000 after acquiring an additional 90,115 shares during the period. 48.42% of the stock is currently owned by hedge funds and other institutional investors.

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.