Youdao (NYSE:DAO) Trading Up 6% – Here’s What Happened

Youdao, Inc. (NYSE:DAO) shares traded up 6% on Friday . The stock traded as high as $6.83 and last traded at $6.83. 28,579 shares were traded during trading, a decline of 61% from the average session volume of 73,789 shares. The stock had previously closed at $6.44.

Analyst Upgrades and Downgrades

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

Youdao Price Performance

The stock has a market capitalization of $856.72 million, a P/E ratio of 101.21 and a beta of 0.01. The stock’s fifty day moving average is $6.55 and its 200-day moving average is $4.84.

Institutional Trading of Youdao

A hedge fund recently raised its stake in Youdao stock. Renaissance Technologies LLC lifted its stake in Youdao, Inc. (NYSE:DAO) by 6.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 52,300 shares of the company’s stock after acquiring an additional 3,300 shares during the period. Renaissance Technologies LLC’s holdings in Youdao were worth $205,000 at the end of the most recent reporting period. 21.91% of the stock is currently 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.