Youdao (NYSE:DAO) Stock Price Up 7.9% – Time to Buy?

Youdao, Inc. (NYSE:DAO) shot up 7.9% during mid-day trading on Monday . The company traded as high as $7.59 and last traded at $7.64. 15,577 shares were traded during mid-day trading, a decline of 78% from the average session volume of 69,661 shares. The stock had previously closed at $7.08.

Wall Street Analyst Weigh In

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

Youdao Trading Up 9.0 %

The firm has a market capitalization of $932.90 million, a PE ratio of 110.21 and a beta of 0.01. The firm’s fifty day moving average price is $6.74 and its 200 day moving average price is $4.97.

Hedge Funds Weigh In On Youdao

Several large investors have recently made changes to their positions in DAO. 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 buying an additional 1,969 shares during the period. Symmetry Peak Management LLC acquired a new position in shares of Youdao during the third quarter valued at approximately $102,000. Finally, Renaissance Technologies LLC lifted its position in shares of Youdao by 6.7% in the second quarter. Renaissance Technologies LLC now owns 52,300 shares of the company’s stock valued at $205,000 after acquiring an additional 3,300 shares in the last quarter. 21.91% of the stock is currently owned by institutional investors and hedge funds.

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.