Youdao (NYSE:DAO) Sees Unusually-High Trading Volume – What’s Next?

Shares of Youdao, Inc. (NYSE:DAO) saw unusually-high trading volume on Friday . Approximately 163,911 shares changed hands during trading, an increase of 44% from the previous session’s volume of 113,981 shares.The stock last traded at $5.04 and had previously closed at $5.13.

Youdao Stock Up 6.8 %

The stock has a market cap of $662.64 million, a P/E ratio of -14.42 and a beta of -0.03. The firm’s 50-day moving average is $3.48 and its two-hundred day moving average is $3.66.

Youdao (NYSE:DAO) last issued its quarterly earnings data on Thursday, August 22nd. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($1.86) by $1.74. The business had revenue of $181.88 million for the quarter.

Hedge Funds Weigh In On Youdao

A hedge fund recently raised its stake in Youdao stock. Renaissance Technologies LLC raised its stake in shares of Youdao, Inc. (NYSE:DAO) by 6.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 52,300 shares of the company’s stock after purchasing an additional 3,300 shares during the period. Renaissance Technologies LLC’s holdings in Youdao were worth $205,000 as of its most recent SEC filing. Institutional investors and hedge funds own 21.91% of the company’s stock.

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.