Youdao (NYSE:DAO) Reaches New 52-Week High – What’s Next?

Youdao, Inc. (NYSE:DAO)’s stock price hit a new 52-week high on Tuesday . The company traded as high as $8.83 and last traded at $8.09, with a volume of 134201 shares traded. The stock had previously closed at $8.05.

Wall Street Analyst Weigh In

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

Youdao Stock Up 2.3 %

The company has a market capitalization of $1.05 billion, a P/E ratio of 123.93 and a beta of 0.03. The business has a 50 day moving average of $7.11 and a 200 day moving average of $5.18.

Hedge Funds Weigh In On Youdao

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC grew its position in 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 acquiring an additional 3,300 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of Youdao by 29.1% in the 4th quarter. Blue Trust Inc. now owns 8,733 shares of the company’s stock valued at $65,000 after purchasing an additional 1,969 shares during the last quarter. Finally, Symmetry Peak Management LLC bought a new position in shares of Youdao during the 3rd quarter valued at approximately $102,000. 21.91% of the stock is owned by hedge funds and other institutional investors.

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.