Youdao, Inc. (NYSE:DAO) Sees Significant Increase in Short Interest

Youdao, Inc. (NYSE:DAO) was the recipient of a significant growth in short interest during the month of January. As of January 31st, there was short interest totalling 254,100 shares, a growth of 5.6% from the January 15th total of 240,700 shares. Currently, 0.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 144,300 shares, the days-to-cover ratio is presently 1.8 days.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Youdao

A number of large investors have recently modified their holdings of DAO. Symmetry Peak Management LLC acquired a new position in shares of Youdao during the third quarter worth approximately $102,000. Blue Trust Inc. lifted its position in shares of Youdao by 29.1% during the fourth quarter. Blue Trust Inc. now owns 8,733 shares of the company’s stock worth $65,000 after purchasing an additional 1,969 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Youdao during the fourth quarter worth approximately $554,000. Norges Bank acquired a new position in shares of Youdao during the fourth quarter worth approximately $715,000. Finally, Renaissance Technologies LLC lifted its position 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 purchasing an additional 1,800 shares in the last quarter. 21.91% of the stock is currently owned by institutional investors and hedge funds.

Youdao Trading Up 7.9 %

Shares of Youdao stock opened at $11.09 on Wednesday. The stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of 158.36 and a beta of 0.03. Youdao has a 1-year low of $2.86 and a 1-year high of $11.82. The firm’s 50-day moving average price is $7.60 and its two-hundred day moving average price is $5.55.

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.