Youdao (NYSE:DAO) Shares Down 6.3% – What’s Next?

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

Youdao Price Performance

The company has a 50-day moving average of $5.69 and a 200 day moving average of $4.36. The company has a market cap of $880.30 million, a PE ratio of 104.00 and a beta of 0.04.

Hedge Funds Weigh In On Youdao

Institutional investors and hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC grew its holdings in Youdao by 6.7% during the 2nd quarter. Renaissance Technologies LLC now owns 52,300 shares of the company’s stock valued at $205,000 after purchasing an additional 3,300 shares during the last quarter. Acadian Asset Management LLC boosted its position 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 bought 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.

About Youdao

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.