Youdao (NYSE:DAO) Trading Down 4.8% – Here’s What Happened

Shares of Youdao, Inc. (NYSE:DAO) traded down 4.8% during trading on Monday . The company traded as low as $6.31 and last traded at $6.40. 61,999 shares changed hands during mid-day trading, a decline of 47% from the average session volume of 116,473 shares. The stock had previously closed at $6.72.

Youdao Stock Down 3.6 %

The business’s 50-day moving average price is $4.99 and its 200 day moving average price is $4.05. The company has a market capitalization of $783.56 million, a P/E ratio of 96.00 and a beta of -0.06.

Institutional Investors Weigh In On Youdao

Several hedge funds have recently bought and sold shares of DAO. Symmetry Peak Management LLC purchased a new position in shares of Youdao during the third quarter worth approximately $102,000. Renaissance Technologies LLC increased its stake in shares of 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 period. Finally, Acadian Asset Management LLC increased its stake in shares of Youdao by 98.4% in the second quarter. Acadian Asset Management LLC now owns 238,445 shares of the company’s stock worth $928,000 after buying an additional 118,245 shares during the period. 21.91% of the stock is currently 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.