Youdao (NYSE:DAO) Hits New 1-Year High – Here’s Why

Youdao, Inc. (NYSE:DAO) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $6.51 and last traded at $6.47, with a volume of 50187 shares changing hands. The stock had previously closed at $6.11.

Youdao Price Performance

The stock has a 50 day moving average price of $4.78 and a 200-day moving average price of $3.99. The stock has a market capitalization of $772.68 million, a price-to-earnings ratio of 87.29 and a beta of -0.06.

Institutional Investors Weigh In On Youdao

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC raised its holdings in shares of 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. Symmetry Peak Management LLC acquired a new position in Youdao in the third quarter valued at $102,000. Finally, Acadian Asset Management LLC increased its holdings in shares of Youdao by 98.4% in the second quarter. Acadian Asset Management LLC now owns 238,445 shares of the company’s stock valued at $928,000 after purchasing an additional 118,245 shares during the period. Hedge funds and other institutional investors own 21.91% of the company’s stock.

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.