Youdao (NYSE:DAO) Reaches New 52-Week High – Should You Buy?

Shares of Youdao, Inc. (NYSE:DAO) hit a new 52-week high on Monday . The company traded as high as $8.01 and last traded at $8.01, with a volume of 35082 shares traded. The stock had previously closed at $7.74.

Youdao Trading Down 2.2 %

The business has a 50-day moving average of $5.65 and a two-hundred day moving average of $4.34. The firm has a market cap of $921.41 million, a P/E ratio of 108.86 and a beta of 0.04.

Institutional Investors Weigh In On Youdao

Hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC raised its stake in shares of Youdao by 6.7% during the second quarter. Renaissance Technologies LLC now owns 52,300 shares of the company’s stock valued at $205,000 after acquiring an additional 3,300 shares during the last quarter. Acadian Asset Management LLC increased its holdings 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 purchasing an additional 118,245 shares during the period. Finally, Symmetry Peak Management LLC acquired a new position in Youdao during the 3rd quarter worth about $102,000. 21.91% of the stock is currently owned by institutional investors and hedge funds.

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.