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

Gaotu Techedu Inc. (NYSE:GOTU) reached a new 52-week low during trading on Thursday . The company traded as low as $1.99 and last traded at $2.01, with a volume of 1069616 shares trading hands. The stock had previously closed at $2.18.

Analyst Ratings Changes

GOTU has been the subject of several research analyst reports. Wall Street Zen upgraded Gaotu Techedu from a “sell” rating to a “hold” rating in a research note on Saturday, December 27th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Gaotu Techedu in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Gaotu Techedu Trading Down 8.7%

The firm’s 50-day simple moving average is $2.28 and its 200 day simple moving average is $2.77. The stock has a market cap of $503.85 million, a P/E ratio of -9.48 and a beta of 0.46.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in GOTU. XTX Topco Ltd increased its holdings in shares of Gaotu Techedu by 296.1% during the fourth quarter. XTX Topco Ltd now owns 213,813 shares of the company’s stock valued at $496,000 after purchasing an additional 159,830 shares during the period. Susquehanna Portfolio Strategies LLC acquired a new position in Gaotu Techedu during the 4th quarter valued at about $169,000. Quadrature Capital Ltd bought a new stake in shares of Gaotu Techedu during the 4th quarter worth about $92,000. Millennium Management LLC raised its position in shares of Gaotu Techedu by 42.1% during the 4th quarter. Millennium Management LLC now owns 178,957 shares of the company’s stock worth $415,000 after buying an additional 53,037 shares in the last quarter. Finally, State Street Corp boosted its holdings in shares of Gaotu Techedu by 6.4% in the fourth quarter. State Street Corp now owns 418,306 shares of the company’s stock valued at $970,000 after acquiring an additional 25,074 shares in the last quarter. Institutional investors and hedge funds own 48.42% of the company’s stock.

About Gaotu Techedu

Gaotu Techedu Inc (NYSE:GOTU), formerly known as GSX Techedu, is a Beijing-based provider of online education services in China. Since its founding in 2014, the company has built a technology-driven platform that delivers live, interactive tutoring sessions to students primarily in the K-12 segment. Gaotu Techedu’s rebranding in 2021 underscored its commitment to leveraging cutting-edge digital tools to expand access to quality instruction across core academic subjects.

The company’s main offerings include small-group and one-on-one classes in mathematics, Chinese, English, physics and chemistry, as well as targeted test preparation for high-stakes national and local examinations.