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

Youdao, Inc. (NYSE:DAO) gapped up before the market opened 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 traded.

Wall Street Analysts Forecast Growth

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

Youdao Trading Up 5.1 %

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

Institutional Trading of Youdao

Large investors have recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Youdao in the fourth quarter valued at approximately $715,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Youdao during the 4th quarter worth $554,000. Marshall Wace LLP acquired a new position in Youdao in the fourth quarter valued at $479,000. Renaissance Technologies LLC boosted its stake in shares of Youdao by 3.3% during the fourth quarter. Renaissance Technologies LLC now owns 57,100 shares of the company’s stock worth $423,000 after buying an additional 1,800 shares during the period. Finally, Walleye Capital LLC purchased a new position in shares of Youdao during the fourth quarter worth about $401,000. 21.91% of the stock is owned by institutional investors and hedge funds.

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.