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

Youdao, Inc. (NYSE:DAO) was the target of a significant increase in short interest in March. As of March 31st, there was short interest totalling 413,900 shares, an increase of 7.0% from the March 15th total of 386,700 shares. Based on an average daily trading volume, of 154,800 shares, the days-to-cover ratio is currently 2.7 days. Approximately 1.4% of the company’s stock are sold short.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. OLD Mission Capital LLC acquired a new position in shares of Youdao during the 4th quarter worth about $109,000. Northern Trust Corp raised its holdings in Youdao by 73.8% during the fourth quarter. Northern Trust Corp now owns 31,706 shares of the company’s stock worth $125,000 after acquiring an additional 13,465 shares in the last quarter. Norges Bank bought a new stake in Youdao during the fourth quarter worth about $381,000. GSA Capital Partners LLP boosted its position in Youdao by 122.9% during the third quarter. GSA Capital Partners LLP now owns 253,363 shares of the company’s stock valued at $1,019,000 after purchasing an additional 139,715 shares during the last quarter. Finally, Tower Research Capital LLC TRC bought a new position in Youdao in the third quarter valued at approximately $31,000. Institutional investors own 21.91% of the company’s stock.

Youdao Stock Performance

Shares of Youdao stock opened at $3.75 on Thursday. The firm has a market cap of $467.98 million, a PE ratio of -5.95 and a beta of -0.11. The business’s 50 day simple moving average is $4.08 and its 200 day simple moving average is $3.98. Youdao has a 52-week low of $2.94 and a 52-week high of $6.71.

Youdao (NYSE:DAO) last posted its quarterly earnings data on Thursday, February 29th. The company reported $0.08 earnings per share (EPS) for the quarter. The business had revenue of $208.53 million during the quarter.

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.