Gaotu Techedu Inc. (NYSE:GOTU) Short Interest Down 11.0% in September

Gaotu Techedu Inc. (NYSE:GOTU) was the recipient of a large decline in short interest during the month of September. As of September 15th, there was short interest totalling 8,980,000 shares, a decline of 11.0% from the August 31st total of 10,090,000 shares. Based on an average daily trading volume, of 1,840,000 shares, the short-interest ratio is presently 4.9 days. Approximately 6.1% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

Separately, Citigroup cut Gaotu Techedu from a “buy” rating to a “sell” rating in a research note on Tuesday, August 27th.

Gaotu Techedu Stock Performance

NYSE:GOTU opened at $3.92 on Tuesday. Gaotu Techedu has a 52 week low of $2.22 and a 52 week high of $8.44. The firm’s 50-day simple moving average is $3.75 and its 200 day simple moving average is $5.32. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of -49.00 and a beta of -0.02.

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

Institutional Investors Weigh In On Gaotu Techedu

A number of hedge funds have recently made changes to their positions in the stock. Tiger Pacific Capital LP acquired a new position in shares of Gaotu Techedu during the fourth quarter worth $10,665,000. HCEP Management Ltd bought a new position in Gaotu Techedu during the 4th quarter worth $3,620,000. Garden State Investment Advisory Services LLC acquired a new position in Gaotu Techedu during the 4th quarter worth about $1,062,000. Goldman Sachs Group Inc. grew its position in shares of Gaotu Techedu by 2,548.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 6,998,033 shares of the company’s stock valued at $25,333,000 after buying an additional 6,733,849 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Gaotu Techedu in the first quarter valued at about $99,000. 48.42% of the stock is currently owned by institutional investors and hedge funds.

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.