Youdao (NYSE:DAO) Trading Up 5.6% – Still a Buy?

Youdao, Inc. (NYSE:DAO)’s stock price traded up 5.6% during trading on Tuesday . The stock traded as high as $7.36 and last traded at $7.31. 34,831 shares were traded during mid-day trading, a decline of 71% from the average session volume of 118,774 shares. The stock had previously closed at $6.92.

Wall Street Analysts Forecast Growth

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

Youdao Stock Up 6.9 %

The stock’s 50-day moving average is $6.15 and its 200 day moving average is $4.59. The stock has a market capitalization of $894.81 million, a PE ratio of 105.71 and a beta of 0.04.

Institutional Trading of Youdao

Several hedge funds and other institutional investors have recently modified their holdings of the company. Symmetry Peak Management LLC purchased a new stake in shares of Youdao during the 3rd quarter worth about $102,000. Renaissance Technologies LLC increased its holdings in Youdao by 6.7% in the second quarter. Renaissance Technologies LLC now owns 52,300 shares of the company’s stock worth $205,000 after buying an additional 3,300 shares during the last quarter. Finally, Acadian Asset Management LLC raised its position in 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 acquiring an additional 118,245 shares in the last quarter. 21.91% of the stock is currently 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.