Youdao (NYSE:DAO) Shares Up 6.6% – Still a Buy?

Youdao, Inc. (NYSE:DAO) shares rose 6.6% on Tuesday . The stock traded as high as $6.66 and last traded at $6.66. Approximately 113,367 shares traded hands during mid-day trading, a decline of 3% from the average daily volume of 116,763 shares. The stock had previously closed at $6.25.

Youdao Price Performance

The business’s fifty day moving average price is $4.99 and its 200-day moving average price is $4.05. The stock has a market capitalization of $805.33 million, a PE ratio of 89.29 and a beta of 0.03.

Institutional Investors Weigh In On Youdao

A number of large investors have recently modified their holdings of DAO. Acadian Asset Management LLC increased its stake in shares of Youdao by 98.4% in the 2nd quarter. Acadian Asset Management LLC now owns 238,445 shares of the company’s stock worth $928,000 after purchasing an additional 118,245 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of 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 buying an additional 3,300 shares during the period. Finally, Symmetry Peak Management LLC purchased a new position in shares of Youdao during the 3rd quarter valued at about $102,000. 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.