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

Youdao, Inc. (NYSE:DAO)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $8.72, but opened at $9.22. Youdao shares last traded at $8.38, with a volume of 134,349 shares.

Analyst Upgrades and Downgrades

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

Youdao Stock Performance

The company’s 50-day moving average price is $7.15 and its 200 day moving average price is $5.20. The stock has a market capitalization of $952.85 million, a P/E ratio of 112.07 and a beta of 0.03.

Institutional Trading of Youdao

Hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. grew 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 worth $65,000 after buying an additional 1,969 shares in the last quarter. Symmetry Peak Management LLC purchased a new position in Youdao in the third quarter worth about $102,000. Finally, Renaissance Technologies LLC increased its stake 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 acquiring an additional 3,300 shares during the last quarter. Hedge funds and other institutional investors 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.