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

Shares of Youdao, Inc. (NYSE:DAO) saw an uptick in trading volume on Friday . 98,776 shares changed hands during mid-day 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.

Analyst Ratings Changes

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

Youdao Stock Down 1.1 %

The firm has a 50 day moving average price of $7.18 and a two-hundred day moving average price of $5.22. The company has a market cap of $961.31 million, a price-to-earnings ratio of 113.57 and a beta of 0.03.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC increased its holdings 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 in the last quarter. Blue Trust Inc. grew 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 purchased a new stake in Youdao during the third quarter worth about $102,000. 21.91% of the stock is owned by 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.