Youdao (NYSE:DAO) Trading Up 3.4% – Here’s What Happened

Youdao, Inc. Unsponsored ADR (NYSE:DAO)’s stock price rose 3.4% on Friday . The stock traded as high as $9.51 and last traded at $9.5050. Approximately 46,669 shares changed hands during trading, a decline of 60% from the average daily volume of 117,744 shares. The stock had previously closed at $9.19.

Analysts Set New Price Targets

A number of brokerages have commented on DAO. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Youdao in a report on Monday. Wall Street Zen cut shares of Youdao from a “buy” rating to a “hold” rating in a research report on Sunday, November 30th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Youdao Stock Up 3.4%

The firm has a 50 day simple moving average of $9.83 and a two-hundred day simple moving average of $9.35. The stock has a market capitalization of $1.13 billion, a P/E ratio of 55.91 and a beta of 0.24.

Hedge Funds Weigh In On Youdao

A number of institutional investors have recently added to or reduced their stakes in DAO. Public Employees Retirement System of Ohio grew its stake in shares of Youdao by 34.8% during the second quarter. Public Employees Retirement System of Ohio now owns 21,557 shares of the company’s stock worth $185,000 after buying an additional 5,565 shares during the last quarter. Walleye Trading LLC acquired a new stake in shares of Youdao during the 1st quarter valued at $115,000. Vident Advisory LLC grew its position in Youdao by 190.2% during the 1st quarter. Vident Advisory LLC now owns 57,192 shares of the company’s stock worth $436,000 after acquiring an additional 37,485 shares during the last quarter. Finally, Walleye Capital LLC grew its position in Youdao by 226.1% during the 1st quarter. Walleye Capital LLC now owns 176,599 shares of the company’s stock worth $1,347,000 after acquiring an additional 122,450 shares during the last quarter. 21.91% of the stock is currently owned by institutional investors and hedge funds.

About Youdao

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.