Gaotu Techedu (NYSE:GOTU) Sets New 52-Week Low – Should You Sell?

Gaotu Techedu Inc. (NYSE:GOTU) shares hit a new 52-week low during trading on Friday . The stock traded as low as $2.40 and last traded at $2.41, with a volume of 564181 shares traded. The stock had previously closed at $2.50.

Wall Street Analysts Forecast Growth

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

Gaotu Techedu Stock Performance

The company’s 50-day moving average is $2.96 and its 200-day moving average is $3.87. The firm has a market cap of $638.54 million, a price-to-earnings ratio of -4.32 and a beta of -0.01.

Hedge Funds Weigh In On Gaotu Techedu

Hedge funds have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio acquired a new position in Gaotu Techedu during the 3rd quarter valued at about $38,000. SG Americas Securities LLC acquired a new position in Gaotu Techedu in the second quarter valued at approximately $75,000. Pinpoint Asset Management Ltd lifted its holdings in Gaotu Techedu by 14.3% in the third quarter. Pinpoint Asset Management Ltd now owns 229,445 shares of the company’s stock valued at $899,000 after buying an additional 28,776 shares during the period. Barclays PLC boosted its stake in Gaotu Techedu by 87.8% in the third quarter. Barclays PLC now owns 73,008 shares of the company’s stock valued at $286,000 after acquiring an additional 34,133 shares during the last quarter. Finally, Marshall Wace LLP grew its holdings in Gaotu Techedu by 158.2% during the 2nd quarter. Marshall Wace LLP now owns 77,562 shares of the company’s stock worth $380,000 after acquiring an additional 47,522 shares during the period. Institutional investors own 48.42% of the company’s stock.

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.