Youdao (NYSE:DAO) Trading 6.2% Higher – Here’s Why

Youdao, Inc. (NYSE:DAO) rose 6.2% during mid-day trading on Tuesday . The stock traded as high as $5.68 and last traded at $5.63. Approximately 102,876 shares changed hands during mid-day trading, a decline of 9% from the average daily volume of 113,072 shares. The stock had previously closed at $5.30.

Youdao Price Performance

The company has a 50 day moving average of $4.73 and a 200-day moving average of $3.97. The company has a market capitalization of $742.45 million, a P/E ratio of 75.71 and a beta of -0.06.

Institutional Trading of Youdao

Several large investors have recently bought and sold shares of DAO. Acadian Asset Management LLC lifted its holdings in shares of Youdao by 98.4% during 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 last quarter. Symmetry Peak Management LLC purchased a new position in Youdao in the 3rd quarter worth approximately $102,000. Finally, Renaissance Technologies LLC raised its holdings in Youdao by 6.7% in the 2nd quarter. Renaissance Technologies LLC now owns 52,300 shares of the company’s stock worth $205,000 after acquiring an additional 3,300 shares during the last quarter. 21.91% of the stock is owned by 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.