Youdao (NYSE:DAO) Trading 6% Higher – What’s Next?

Youdao, Inc. (NYSE:DAO) shares rose 6% during trading on Friday . The company traded as high as $6.83 and last traded at $6.83. Approximately 28,579 shares traded hands during trading, a decline of 61% from the average daily volume of 73,789 shares. The stock had previously closed at $6.44.

Wall Street Analyst Weigh In

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

Youdao Price Performance

The firm has a market capitalization of $862.76 million, a price-to-earnings ratio of 102.20 and a beta of 0.01. The business’s 50-day moving average price is $6.51 and its 200 day moving average price is $4.82.

Hedge Funds Weigh In On Youdao

A hedge fund recently raised its stake in Youdao stock. Renaissance Technologies LLC increased its holdings in Youdao, Inc. (NYSE:DAO) by 6.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 52,300 shares of the company’s stock after acquiring an additional 3,300 shares during the quarter. Renaissance Technologies LLC’s holdings in Youdao were worth $205,000 as of its most recent filing with the SEC. 21.91% of the stock is owned by hedge funds and other institutional investors.

Youdao Company Profile

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.