Gaotu Techedu Inc. (NYSE:GOTU) Sees Significant Growth in Short Interest

Gaotu Techedu Inc. (NYSE:GOTU) was the recipient of a large increase in short interest in the month of 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. Approximately 6.8% of the company’s stock are sold short. Based on an average daily trading volume, of 1,860,000 shares, the days-to-cover ratio is presently 5.4 days.

Institutional Investors Weigh In On Gaotu Techedu

Large investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. lifted its holdings in Gaotu Techedu by 2,548.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 6,998,033 shares of the company’s stock worth $25,333,000 after buying an additional 6,733,849 shares in the last quarter. Tiger Pacific Capital LP acquired a new stake in Gaotu Techedu during the 4th quarter worth $10,665,000. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Gaotu Techedu by 97.8% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,365,100 shares of the company’s stock worth $15,491,000 after buying an additional 1,169,300 shares during the period. HCEP Management Ltd bought a new position in Gaotu Techedu during the 4th quarter worth about $3,620,000. Finally, BNP Paribas Financial Markets bought a new position in Gaotu Techedu during the 1st quarter worth about $6,360,000. 48.42% of the stock is currently owned by institutional investors.

Gaotu Techedu Stock Performance

Shares of GOTU stock traded down $0.03 during trading hours on Wednesday, hitting $2.63. The company had a trading volume of 1,645,131 shares, compared to its average volume of 3,556,455. Gaotu Techedu has a 12 month low of $2.22 and a 12 month high of $8.44. The firm has a market capitalization of $679.66 million, a price-to-earnings ratio of -32.88 and a beta of -0.02. The firm’s fifty day moving average is $4.04 and its 200 day moving average is $5.57.

Analyst Upgrades and Downgrades

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

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.