Youdao (NYSE:DAO) Sees Strong Trading Volume – Here’s Why

Youdao, Inc. (NYSE:DAO) saw strong trading volume on Friday . 98,776 shares changed hands during trading, an increase of 8% from the previous session’s volume of 91,522 shares.The stock last traded at $8.01 and had previously closed at $8.04.

Wall Street Analyst Weigh In

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

Youdao Stock Performance

The firm has a market capitalization of $961.31 million, a P/E ratio of 113.57 and a beta of 0.03. The business has a 50 day simple moving average of $7.18 and a two-hundred day simple moving average of $5.22.

Institutional Trading of Youdao

Hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC grew its holdings in shares of Youdao by 6.7% during the 2nd 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 period. Blue Trust Inc. lifted its position in Youdao by 29.1% during the fourth quarter. Blue Trust Inc. now owns 8,733 shares of the company’s stock valued at $65,000 after buying an additional 1,969 shares during the period. Finally, Symmetry Peak Management LLC bought a new stake in shares of Youdao during the 3rd quarter valued at $102,000. 21.91% of the stock is owned by 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.