Youdao (NYSE:DAO) Sees Large Volume Increase – Time to Buy?

Youdao, Inc. (NYSE:DAO) shares saw unusually-high trading volume on Friday . Approximately 163,911 shares traded hands during trading, an increase of 44% from the previous session’s volume of 113,981 shares.The stock last traded at $5.04 and had previously closed at $5.13.

Youdao Price Performance

The business has a fifty day simple moving average of $3.44 and a 200 day simple moving average of $3.66. The firm has a market cap of $623.95 million, a price-to-earnings ratio of -13.05 and a beta of -0.03.

Youdao (NYSE:DAO) last announced its earnings results on Thursday, August 22nd. The company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($1.86) by $1.74. The firm had revenue of $181.88 million for the quarter.

Institutional Investors Weigh In On Youdao

A hedge fund recently raised its stake in Youdao stock. Renaissance Technologies LLC lifted its stake in Youdao, Inc. (NYSE:DAO) by 6.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 52,300 shares of the company’s stock after purchasing an additional 3,300 shares during the quarter. Renaissance Technologies LLC’s holdings in Youdao were worth $205,000 at the end of the most recent reporting period. 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.