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

Youdao, Inc. (NYSE:DAO) shares saw strong trading volume on Tuesday . 142,509 shares were traded during mid-day 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.

Wall Street Analysts Forecast Growth

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

Youdao Stock Up 7.9 %

The company’s 50-day moving average price is $7.60 and its 200-day moving average price is $5.55. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of 158.36 and a beta of 0.03.

Institutional Trading of Youdao

Several institutional investors have recently modified their holdings of the stock. Symmetry Peak Management LLC purchased a new position in shares of Youdao in the third quarter worth about $102,000. Blue Trust Inc. lifted its stake in shares of Youdao by 29.1% in the fourth quarter. Blue Trust Inc. now owns 8,733 shares of the company’s stock worth $65,000 after buying an additional 1,969 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Youdao in the fourth quarter worth about $554,000. Norges Bank purchased a new position in shares of Youdao in the fourth quarter worth about $715,000. Finally, Renaissance Technologies LLC lifted its stake in shares of Youdao by 3.3% in the fourth quarter. Renaissance Technologies LLC now owns 57,100 shares of the company’s stock worth $423,000 after buying an additional 1,800 shares in the last quarter. Institutional investors and hedge funds own 21.91% of the company’s stock.

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.