Youdao (NYSE:DAO) Shares Gap Up – Here’s What Happened

Youdao, Inc. (NYSE:DAO) shares gapped up before the market opened on Thursday . The stock had previously closed at $8.72, but opened at $9.22. Youdao shares last traded at $8.38, with a volume of 134,349 shares.

Analysts Set New Price Targets

Separately, Citigroup cut Youdao from a “buy” rating to a “neutral” rating in a report on Thursday, December 19th.

Youdao Stock Down 9.6 %

The stock has a market capitalization of $952.85 million, a P/E ratio of 112.07 and a beta of 0.03. The stock’s 50 day moving average price is $7.15 and its 200-day moving average price is $5.20.

Institutional Investors Weigh In On Youdao

A number of hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC raised its holdings in Youdao by 6.7% in 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 in the last quarter. Symmetry Peak Management LLC purchased a new position in shares of Youdao in the 3rd quarter worth approximately $102,000. Finally, Blue Trust Inc. raised its stake in shares of Youdao by 29.1% during the 4th quarter. Blue Trust Inc. now owns 8,733 shares of the company’s stock worth $65,000 after acquiring an additional 1,969 shares in the last quarter. 21.91% of the stock is currently owned by hedge funds and other 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.