Youdao (NYSE:DAO) Shares Up 4.3% – Here’s Why

Youdao, Inc. (NYSE:DAO)’s stock price was up 4.3% during trading on Wednesday . The stock traded as high as $7.90 and last traded at $7.96. Approximately 76,081 shares changed hands during mid-day trading, a decline of 38% from the average daily volume of 122,559 shares. The stock had previously closed at $7.63.

Analysts Set New Price Targets

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

Youdao Stock Up 3.1 %

The firm has a 50 day moving average of $8.52 and a 200 day moving average of $6.57. The firm has a market cap of $951.40 million, a PE ratio of 78.65 and a beta of 0.36.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC raised its stake in shares of Youdao by 3.3% during the 4th quarter. Renaissance Technologies LLC now owns 57,100 shares of the company’s stock valued at $423,000 after purchasing an additional 1,800 shares during the period. Blue Trust Inc. increased 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 valued at $65,000 after buying an additional 1,969 shares during the period. Vident Advisory LLC lifted its holdings in shares of Youdao by 35.6% in the fourth quarter. Vident Advisory LLC now owns 19,707 shares of the company’s stock worth $146,000 after buying an additional 5,170 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position 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 acquiring an additional 8,318 shares during the period. Finally, Jane Street Group LLC purchased a new position in Youdao during the fourth quarter valued at approximately $119,000. 21.91% of the stock is owned by institutional investors.

About Youdao

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.