Gaotu Techedu Inc. (NYSE:GOTU) Short Interest Update

Gaotu Techedu Inc. (NYSE:GOTU) saw a large increase in short interest in August. As of August 31st, there was short interest totalling 10,090,000 shares, an increase of 6.9% from the August 15th total of 9,440,000 shares. Based on an average trading volume of 1,860,000 shares, the days-to-cover ratio is presently 5.4 days. Approximately 6.8% of the company’s shares are sold short.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of GOTU. BRIGHT VALLEY CAPITAL Ltd purchased a new stake in Gaotu Techedu in the 2nd quarter valued at $2,450,000. Millennium Management LLC increased its stake in Gaotu Techedu by 1,233.8% in the 2nd quarter. Millennium Management LLC now owns 579,011 shares of the company’s stock valued at $2,837,000 after purchasing an additional 535,601 shares in the last quarter. Marshall Wace LLP raised its stake in shares of 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 buying an additional 47,522 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new stake in shares of Gaotu Techedu in the second quarter valued at about $693,000. Finally, Headlands Technologies LLC raised its position in shares of Gaotu Techedu by 1,362.7% during the 2nd quarter. Headlands Technologies LLC now owns 141,718 shares of the company’s stock worth $694,000 after purchasing an additional 132,029 shares during the last quarter. Institutional investors and hedge funds own 48.42% of the company’s stock.

Gaotu Techedu Trading Down 0.7 %

Shares of NYSE:GOTU opened at $2.67 on Tuesday. The company’s 50 day moving average is $4.15 and its two-hundred day moving average is $5.63. The company has a market cap of $690.00 million, a PE ratio of -33.38 and a beta of -0.02. Gaotu Techedu has a 52 week low of $2.22 and a 52 week high of $8.44.

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.