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

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

Analysts Set New Price Targets

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

Youdao Stock Performance

The stock has a market cap of $932.90 million, a P/E ratio of 110.21 and a beta of 0.01. The company’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

A number of hedge funds and other institutional investors have recently made changes to their positions in DAO. Blue Trust Inc. increased its position in Youdao by 29.1% during the 4th quarter. Blue Trust Inc. now owns 8,733 shares of the company’s stock valued at $65,000 after purchasing an additional 1,969 shares during the period. Symmetry Peak Management LLC purchased a new position in shares of Youdao in the 3rd quarter valued at $102,000. Finally, 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. 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.