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

Youdao, Inc. (NYSE:DAO) saw an uptick in trading volume on Tuesday . 142,509 shares changed hands during trading, a decline of 10% from the previous session’s volume of 157,966 shares.The stock last traded at $10.80 and had previously closed at $10.27.

Analyst Ratings Changes

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

Youdao Price Performance

The business’s 50 day simple moving average is $7.60 and its 200 day simple moving average is $5.55. The company has a market capitalization of $1.34 billion, a PE ratio of 158.36 and a beta of 0.03.

Institutional Investors Weigh In On Youdao

A number of institutional investors and hedge funds have recently made changes to their positions in DAO. Blue Trust Inc. raised its stake in shares of Youdao by 29.1% in the 4th quarter. Blue Trust Inc. now owns 8,733 shares of the company’s stock valued at $65,000 after acquiring an additional 1,969 shares during the period. Symmetry Peak Management LLC purchased a new stake in shares of Youdao in the 3rd quarter valued at approximately $102,000. Jane Street Group LLC purchased a new stake in shares of Youdao in the 4th quarter valued at approximately $119,000. Vident Advisory LLC raised its stake in shares of Youdao by 35.6% in the 4th quarter. Vident Advisory LLC now owns 19,707 shares of the company’s stock valued at $146,000 after acquiring an additional 5,170 shares during the period. Finally, Bank of America Corp DE raised its stake in shares of Youdao by 13,310.0% in the 4th quarter. Bank of America Corp DE now owns 32,050 shares of the company’s stock valued at $237,000 after acquiring an additional 31,811 shares during the period. 21.91% of the stock is owned by hedge funds and other institutional investors.

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.