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

Gaotu Techedu Inc. (NYSE:GOTU - Get Free Report) was the target of a significant decline in short interest in the month of April. As of April 30th, there was short interest totalling 8,040,000 shares, a decline of 6.7% from the April 15th total of 8,620,000 shares. Based on an average daily volume of 4,860,000 shares, the short-interest ratio is currently 1.7 days. Approximately 5.4% of the company's shares are sold short.

Institutional Investors Weigh In On Gaotu Techedu

Several hedge funds have recently modified their holdings of the stock. 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 during the last quarter. Harvest Fund Management Co. Ltd lifted its position in shares of 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 worth $19,507,000 after buying an additional 909,354 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Gaotu Techedu by 16.4% in the 3rd quarter. Acadian Asset Management LLC now owns 4,445,239 shares of the company's stock valued at $12,248,000 after buying an additional 625,976 shares during the period. Yong Rong HK Asset Management Ltd bought a new stake in shares of Gaotu Techedu during the 4th quarter valued at about $11,487,000. Finally, Tiger Pacific Capital LP acquired a new stake in Gaotu Techedu during the fourth quarter worth about $10,665,000. 48.42% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, CLSA raised shares of Gaotu Techedu from an "underperform" rating to an "outperform" rating and set a $8.65 target price on the stock in a research report on Wednesday, February 28th.

Gaotu Techedu Stock Performance

GOTU traded up $0.36 on Friday, reaching $8.35. 2,452,910 shares of the company's stock were exchanged, compared to its average volume of 2,583,366. Gaotu Techedu has a twelve month low of $2.22 and a twelve month high of $8.44. The company's 50 day moving average is $6.97 and its 200-day moving average is $4.96. The company has a market cap of $2.16 billion, a price-to-earnings ratio of -834.17 and a beta of 0.07.

Gaotu Techedu (NYSE:GOTU - Get Free Report) last released its quarterly earnings data on Tuesday, February 27th. The company reported ($0.07) earnings per share (EPS) for the quarter. The business had revenue of $107.19 million during the quarter. Gaotu Techedu had a negative return on equity of 0.10% and a negative net margin of 0.10%.

About Gaotu Techedu

Gaotu Techedu Inc, a technology-driven education company, provides online K-12 after-school tutoring services in the People's Republic of China. The company provides foreign language courses comprising English and Japanese, as well as test preparation courses for students taking language certification exams; and professional courses primarily for college students and adults preparing for professional qualification exams, such teacher's qualification, Chartered Financial Analyst designation, Certified Public Accountant designation, Certified Tax Agent designation, securities qualification exams, and other exams.