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

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

Hedge Funds Weigh In On Gaotu Techedu

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

Gaotu Techedu Price Performance

Shares of NYSE:GOTU opened at $3.70 on Friday. The stock has a market cap of $960.41 million, a price-to-earnings ratio of -46.25 and a beta of -0.02. The company has a 50 day moving average of $3.77 and a 200-day moving average of $5.37. Gaotu Techedu has a one year low of $2.22 and a one year high of $8.44.

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

Analysts Set New Price Targets

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

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.