Youdao, Inc. (NYSE:DAO - Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $9.77, but opened at $10.47. Youdao shares last traded at $9.82, with a volume of 117,390 shares traded.
Wall Street Analysts Forecast Growth
Separately, Citigroup cut Youdao from a "buy" rating to a "neutral" rating in a report on Thursday, December 19th.
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Youdao Stock Up 7.9 %
The stock has a fifty day moving average of $7.60 and a 200-day moving average of $5.55. The firm has a market capitalization of $1.34 billion, a P/E ratio of 158.36 and a beta of 0.03.
Hedge Funds Weigh In On Youdao
A number of large investors have recently modified their holdings of DAO. Symmetry Peak Management LLC acquired a new position in Youdao during the 3rd quarter worth $102,000. Blue Trust Inc. lifted its stake in shares of Youdao by 29.1% during the fourth quarter. Blue Trust Inc. now owns 8,733 shares of the company's stock valued at $65,000 after acquiring an additional 1,969 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in Youdao in the fourth quarter valued at about $554,000. Norges Bank bought a new position in Youdao in the fourth quarter valued at about $715,000. Finally, Renaissance Technologies LLC increased its position in 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 purchasing an additional 1,800 shares during the period. 21.91% of the stock is currently owned by institutional investors and hedge funds.
About Youdao
(
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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.
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