Youdao (NYSE:DAO) Shares Gap Up – What’s Next?

Shares of Youdao, Inc. (NYSE:DAO) gapped up prior to trading on Friday . The stock had previously closed at $9.77, but opened at $10.47. Youdao shares last traded at $9.82, with a volume of 117,390 shares.

Analyst Ratings Changes

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

Youdao Price Performance

The company has a market capitalization of $1.24 billion, a PE ratio of 146.71 and a beta of 0.03. The stock’s 50 day simple moving average is $7.54 and its 200-day simple moving average is $5.47.

Hedge Funds Weigh In On Youdao

Several institutional investors have recently modified their holdings of the business. Jane Street Group LLC acquired a new stake in Youdao in the 4th quarter valued at about $119,000. Marshall Wace LLP acquired a new position in Youdao during the 4th quarter worth approximately $479,000. Walleye Capital LLC acquired a new position in Youdao during the 4th quarter worth approximately $401,000. Renaissance Technologies LLC raised its holdings in shares of Youdao by 3.3% in the 4th quarter. Renaissance Technologies LLC now owns 57,100 shares of the company’s stock valued at $423,000 after purchasing an additional 1,800 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Youdao during the 4th quarter worth $715,000. Institutional investors and hedge funds 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.