Youdao (NYSE:DAO) Shares Down 4.8% – Here’s What Happened

Youdao, Inc. (NYSE:DAO)’s share price was down 4.8% on Monday . The company traded as low as $6.31 and last traded at $6.40. Approximately 61,999 shares were traded during mid-day trading, a decline of 47% from the average daily volume of 116,473 shares. The stock had previously closed at $6.72.

Youdao Stock Down 3.6 %

The stock has a market capitalization of $783.56 million, a P/E ratio of 96.00 and a beta of -0.06. The business’s 50 day simple moving average is $4.99 and its two-hundred day simple moving average is $4.05.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Acadian Asset Management LLC increased its holdings in Youdao by 98.4% during the second quarter. Acadian Asset Management LLC now owns 238,445 shares of the company’s stock worth $928,000 after buying an additional 118,245 shares during the last quarter. Renaissance Technologies LLC boosted 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 purchasing an additional 3,300 shares during the period. Finally, Symmetry Peak Management LLC bought a new position in Youdao during the third quarter worth about $102,000. 21.91% of the stock is owned by 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.