Youdao (NYSE:DAO) Stock Price Up 6.2% – Here’s What Happened

Youdao, Inc. (NYSE:DAO)’s stock price rose 6.2% during trading on Tuesday . The company traded as high as $5.68 and last traded at $5.63. Approximately 102,876 shares traded hands during trading, a decline of 9% from the average daily volume of 113,072 shares. The stock had previously closed at $5.30.

Youdao Price Performance

The firm has a market cap of $779.93 million, a P/E ratio of 92.14 and a beta of -0.06. The stock’s 50 day moving average is $4.85 and its two-hundred day moving average is $4.01.

Hedge Funds Weigh In On Youdao

Hedge funds and other institutional investors have recently modified their holdings of the stock. Acadian Asset Management LLC grew its position in Youdao by 98.4% in the second quarter. Acadian Asset Management LLC now owns 238,445 shares of the company’s stock valued at $928,000 after acquiring an additional 118,245 shares during the period. Symmetry Peak Management LLC acquired a new stake in shares of Youdao in the 3rd quarter valued at $102,000. Finally, Renaissance Technologies LLC boosted its stake in shares of Youdao by 6.7% in the 2nd quarter. Renaissance Technologies LLC now owns 52,300 shares of the company’s stock valued at $205,000 after purchasing an additional 3,300 shares in the last quarter. Institutional investors own 21.91% of the company’s stock.

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.