Youdao (NYSE:DAO) Sees Unusually-High Trading Volume – Should You Buy?

Youdao, Inc. (NYSE:DAO) saw strong trading volume on Friday . 64,635 shares changed hands during mid-day 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 Stock Up 0.9 %

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

Institutional Trading of Youdao

Institutional investors and hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC lifted its stake in shares of Youdao by 6.7% during the second quarter. Renaissance Technologies LLC now owns 52,300 shares of the company’s stock valued at $205,000 after buying an additional 3,300 shares during the period. Acadian Asset Management LLC lifted its stake 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 buying an additional 118,245 shares during the period. Finally, Symmetry Peak Management LLC purchased a new position in shares of Youdao during the third quarter valued at approximately $102,000. Hedge funds and other institutional investors 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.