Youdao (NYSE:DAO) Sees Unusually-High Trading Volume – What’s Next?

Youdao, Inc. (NYSE:DAO) shares saw strong trading volume on Friday . 64,635 shares changed hands during trading, a decline of 44% from the previous session’s volume of 115,947 shares.The stock last traded at $6.11 and had previously closed at $6.45.

Youdao Trading Up 0.9 %

The stock’s fifty day moving average price is $4.92 and its 200-day moving average price is $4.02. The firm has a market cap of $787.19 million, a price-to-earnings ratio of 92.14 and a beta of -0.06.

Institutional Trading of Youdao

Several institutional investors have recently added to or reduced their stakes in DAO. Acadian Asset Management LLC increased its stake in Youdao by 98.4% in the second quarter. Acadian Asset Management LLC now owns 238,445 shares of the company’s stock valued at $928,000 after purchasing an additional 118,245 shares during the period. Symmetry Peak Management LLC acquired a new position in Youdao during the third quarter worth about $102,000. Finally, Renaissance Technologies LLC grew its position in 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 buying an additional 3,300 shares during the period. Institutional investors and hedge funds own 21.91% of the company’s stock.

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.