Youdao (NYSE:DAO) Shares Down 6.3% - What's Next?

Shares of Youdao, Inc. (NYSE:DAO - Get Free Report) were down 6.3% on Tuesday . The company traded as low as $7.24 and last traded at $7.30. Approximately 29,605 shares were traded during trading, a decline of 75% from the average daily volume of 118,421 shares. The stock had previously closed at $7.79.

Youdao Stock Down 2.2 %

The business has a 50 day moving average price of $5.65 and a 200-day moving average price of $4.34. The firm has a market cap of $921.41 million, a price-to-earnings ratio of 108.86 and a beta of 0.04.

Institutional Investors Weigh In On Youdao

Several hedge funds have recently modified their holdings of DAO. Acadian Asset Management LLC lifted its holdings 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 acquiring an additional 118,245 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Youdao by 6.7% during the second quarter. Renaissance Technologies LLC now owns 52,300 shares of the company's stock worth $205,000 after purchasing an additional 3,300 shares during the last quarter. Finally, Symmetry Peak Management LLC bought a new position in shares of Youdao in the third quarter valued at about $102,000. 21.91% of the stock is 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.