Youdao (NYSE:DAO) Trading Up 5.6% – Here’s What Happened

Youdao, Inc. (NYSE:DAO) traded up 5.6% during mid-day trading on Tuesday . The company traded as high as $7.36 and last traded at $7.31. 34,831 shares were traded during mid-day trading, a decline of 71% from the average session volume of 118,774 shares. The stock had previously closed at $6.92.

Analysts Set New Price Targets

Separately, Citigroup lowered Youdao from a “buy” rating to a “neutral” rating in a research report on Thursday, December 19th.

Youdao Stock Performance

The stock has a 50 day moving average price of $6.01 and a 200 day moving average price of $4.52. The company has a market cap of $871.83 million, a P/E ratio of 103.00 and a beta of 0.04.

Institutional Trading of Youdao

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Symmetry Peak Management LLC purchased a new position in Youdao in the 3rd quarter worth about $102,000. Renaissance Technologies LLC boosted its position in shares of Youdao by 6.7% in the second quarter. Renaissance Technologies LLC now owns 52,300 shares of the company’s stock worth $205,000 after buying an additional 3,300 shares during the period. Finally, Acadian Asset Management LLC raised its position in Youdao by 98.4% during the second quarter. Acadian Asset Management LLC now owns 238,445 shares of the company’s stock valued at $928,000 after buying an additional 118,245 shares during the period. 21.91% of the stock is owned by institutional investors and hedge funds.

About Youdao

Youdao, Inc, an internet technology company, provides online services in the field of content, community, communication, and commerce in China. It operates through three segments: Learning Services, Smart Devices, and Online Marketing Services. The company provides various learning content, applications, and solutions, which cover topics and target people from various age groups for their learning needs through its websites and mobile applications.