Youdao (NYSE:DAO) Trading 2.9% Higher – Here’s What Happened

Youdao, Inc. Unsponsored ADR (NYSE:DAO) was up 2.9% on Friday . The company traded as high as $10.15 and last traded at $9.9950. Approximately 94,039 shares changed hands during mid-day trading, a decline of 2% from the average daily volume of 96,201 shares. The stock had previously closed at $9.71.

Analyst Ratings Changes

DAO has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Youdao in a report on Monday, December 22nd. Wall Street Zen downgraded shares of Youdao from a “buy” rating to a “hold” rating in a research report on Sunday, November 30th. Finally, Citigroup upgraded shares of Youdao from a “hold” rating to a “buy” rating in a research note on Thursday, February 12th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold”.

Youdao Trading Up 2.9%

The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of 76.89 and a beta of 0.37. The firm’s 50 day simple moving average is $10.56 and its 200-day simple moving average is $10.00.

Youdao (NYSE:DAO) last released its earnings results on Wednesday, February 11th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.04 by $0.03. Youdao had a net margin of 1.81% and a negative return on equity of 6.41%. The company had revenue of $223.64 million during the quarter, compared to analysts’ expectations of $211.46 million.

Hedge Funds Weigh In On Youdao

An institutional investor recently raised its position in Youdao stock. Public Employees Retirement System of Ohio lifted its holdings in shares of Youdao, Inc. Unsponsored ADR (NYSE:DAO) by 35.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,286 shares of the company’s stock after buying an additional 7,729 shares during the period. Public Employees Retirement System of Ohio’s holdings in Youdao were worth $291,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 21.91% of the company’s stock.

Youdao Company Profile

Youdao, Inc (NYSE: DAO), established in 2006 as a subsidiary of NetEase, is headquartered in Beijing, China. The company went public on the New York Stock Exchange in October 2019, marking a significant milestone in its development as an intelligent learning and knowledge service provider. Since its inception, Youdao has combined cloud computing, artificial intelligence and big data analytics to create an adaptive learning ecosystem designed to meet the needs of individual learners and organizations.

At the core of Youdao’s offerings is its suite of digital dictionaries and translation tools, including the flagship Youdao Dictionary app and translation engine.