Gaotu Techedu Inc. (NYSE:GOTU – Get Free Report) saw a significant drop in short interest in the month of June. As of June 15th, there was short interest totalling 8,510,000 shares, a drop of 7.2% from the May 31st total of 9,170,000 shares. Based on an average daily volume of 2,400,000 shares, the short-interest ratio is presently 3.5 days. Approximately 5.8% of the company’s shares are sold short.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of the stock. Harvest Fund Management Co. Ltd lifted its position in Gaotu Techedu by 20.4% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 5,373,915 shares of the company’s stock valued at $19,507,000 after acquiring an additional 909,354 shares in the last quarter. Yong Rong HK Asset Management Ltd acquired a new position in shares of Gaotu Techedu during the fourth quarter worth about $11,487,000. Jump Financial LLC acquired a new stake in Gaotu Techedu in the 4th quarter valued at approximately $313,000. Tower Research Capital LLC TRC lifted its stake in Gaotu Techedu by 543.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 14,988 shares of the company’s stock valued at $54,000 after acquiring an additional 12,659 shares in the last quarter. Finally, Tiger Pacific Capital LP acquired a new position in Gaotu Techedu during the 4th quarter worth approximately $10,665,000. Institutional investors own 48.42% of the company’s stock.
Gaotu Techedu Stock Performance
GOTU stock traded up $0.34 during midday trading on Wednesday, hitting $5.71. 2,059,397 shares of the company’s stock were exchanged, compared to its average volume of 4,247,750. Gaotu Techedu has a one year low of $2.22 and a one year high of $8.44. The company has a market cap of $1.47 billion and a PE ratio of -71.31. The stock’s fifty day moving average price is $6.12 and its 200-day moving average price is $5.60.
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.
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