Youdao (NYSE:DAO) Shares Down 5.3% - What's Next?

Youdao, Inc. (NYSE:DAO - Get Free Report)'s share price dropped 5.3% during trading on Monday . The company traded as low as $5.02 and last traded at $5.19. Approximately 103,939 shares changed hands during mid-day trading, a decline of 9% from the average daily volume of 114,710 shares. The stock had previously closed at $5.48.

Youdao Stock Performance

The company has a market cap of $674.73 million, a PE ratio of -14.39 and a beta of -0.03. The company has a fifty day moving average of $3.48 and a two-hundred day moving average of $3.66.

Youdao (NYSE:DAO - Get Free Report) last announced its earnings results on Thursday, August 22nd. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.86) by $1.74. The business had revenue of $181.88 million for the quarter.

Hedge Funds Weigh In On Youdao

A hedge fund recently raised its stake in Youdao stock. Renaissance Technologies LLC increased its position in Youdao, Inc. (NYSE:DAO - Free Report) by 6.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,300 shares of the company's stock after purchasing an additional 3,300 shares during the quarter. Renaissance Technologies LLC's holdings in Youdao were worth $205,000 as of its most recent SEC filing. 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.