Youdao (NYSE:DAO) Shares Up 5.6% – What’s Next?

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

Analyst Ratings Changes

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

Youdao Stock Up 4.2 %

The firm has a fifty day simple moving average of $6.01 and a 200-day simple moving average of $4.52. The company has a market cap of $871.83 million, a PE ratio of 103.00 and a beta of 0.04.

Hedge Funds Weigh In On Youdao

Institutional investors have recently added to or reduced their stakes in the stock. Symmetry Peak Management LLC acquired a new position in Youdao during the 3rd quarter worth approximately $102,000. Renaissance Technologies LLC increased its position in Youdao by 6.7% during 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 in the last quarter. Finally, Acadian Asset Management LLC grew its holdings in shares of Youdao by 98.4% during the second quarter. Acadian Asset Management LLC now owns 238,445 shares of the company’s stock worth $928,000 after buying an additional 118,245 shares in the last quarter. 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.