Youdao (NYSE:DAO) Sets New 12-Month High – Here’s What Happened

Youdao, Inc. (NYSE:DAO)’s share price reached a new 52-week high on Tuesday . The company traded as high as $8.83 and last traded at $8.09, with a volume of 134201 shares traded. The stock had previously closed at $8.05.

Wall Street Analysts Forecast Growth

Separately, Citigroup downgraded shares of Youdao from a “buy” rating to a “neutral” rating in a research note on Thursday, December 19th.

Youdao Trading Up 2.3 %

The company has a 50-day simple moving average of $7.11 and a 200 day simple moving average of $5.18. The company has a market cap of $1.05 billion, a P/E ratio of 123.93 and a beta of 0.03.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in DAO. Renaissance Technologies LLC boosted its position in Youdao by 6.7% in the 2nd 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. Blue Trust Inc. raised 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 in the last quarter. Finally, Symmetry Peak Management LLC purchased a new stake in shares of Youdao in the third quarter valued at approximately $102,000. 21.91% of the stock is currently owned by institutional investors.

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.