Youdao (NYSE:DAO) Trading Up 7% – Here’s Why

Youdao, Inc. (NYSE:DAO) was up 7% on Friday . The stock traded as high as $9.00 and last traded at $8.81. Approximately 38,215 shares changed hands during trading, a decline of 68% from the average daily volume of 121,100 shares. The stock had previously closed at $8.23.

Analyst Upgrades and Downgrades

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

Youdao Stock Up 6.9 %

The company has a fifty day moving average of $8.32 and a two-hundred day moving average of $6.30. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of 87.96 and a beta of 0.36.

Youdao (NYSE:DAO) last released its earnings results on Thursday, February 20th. The company reported $0.10 EPS for the quarter. Youdao had a negative return on equity of 3.75% and a net margin of 1.50%. The company had revenue of $183.55 million during the quarter.

Institutional Investors Weigh In On Youdao

Hedge funds and other institutional investors have recently bought and sold shares of the business. Blue Trust Inc. lifted its holdings in Youdao by 29.1% in the fourth quarter. Blue Trust Inc. now owns 8,733 shares of the company’s stock valued at $65,000 after acquiring an additional 1,969 shares during the period. Symmetry Peak Management LLC purchased a new stake in shares of Youdao in the 3rd quarter worth about $102,000. Bank of America Corp DE boosted its position in shares of Youdao by 13,310.0% in the 4th quarter. Bank of America Corp DE now owns 32,050 shares of the company’s stock worth $237,000 after buying an additional 31,811 shares in the last quarter. Jane Street Group LLC acquired a new stake in Youdao in the 4th quarter valued at about $119,000. Finally, Public Employees Retirement System of Ohio lifted its holdings in shares of Youdao by 754.1% in the fourth quarter. Public Employees Retirement System of Ohio now owns 9,421 shares of the company’s stock valued at $70,000 after purchasing an additional 8,318 shares in the last quarter. Institutional investors and hedge funds own 21.91% of the company’s stock.

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.