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

Youdao, Inc. (NYSE:DAO) 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 traded.

Analysts Set New Price Targets

Separately, Citigroup cut 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 capitalization of $945.59 million, a P/E ratio of 111.71 and a beta of 0.03. The firm has a 50-day moving average price of $7.21 and a 200 day moving average price of $5.25.

Institutional Investors Weigh In On Youdao

A number of institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC grew its holdings in shares of 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 acquiring an additional 3,300 shares during the period. Symmetry Peak Management LLC bought a new position in shares of Youdao during the 3rd quarter valued at about $102,000. Finally, Blue Trust Inc. grew its holdings 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 buying an additional 1,969 shares in the last quarter. 21.91% of the stock is owned by hedge funds and other institutional investors.

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.