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

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

Youdao Stock Up 15.8 %

The firm’s 50-day moving average is $4.73 and its 200-day moving average is $3.97. The company has a market capitalization of $742.45 million, a PE ratio of 75.71 and a beta of -0.06.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Symmetry Peak Management LLC bought a new position in shares of Youdao during the third quarter valued at about $102,000. Renaissance Technologies LLC grew 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 buying an additional 3,300 shares during the last quarter. Finally, Acadian Asset Management LLC grew its stake 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 buying an additional 118,245 shares during the last quarter. 21.91% of the stock is currently owned by hedge funds and other 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.