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

Shares of Youdao, Inc. (NYSE:DAO) gapped up before the market opened on Thursday . The stock had previously closed at $9.06, but opened at $9.50. Youdao shares last traded at $8.95, with a volume of 49,591 shares traded.

Analyst Upgrades and Downgrades

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

Youdao Price Performance

The company’s fifty day simple moving average is $8.14 and its 200-day simple moving average is $6.06. The firm has a market capitalization of $1.07 billion, a PE ratio of 88.85 and a beta of 0.36.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Symmetry Peak Management LLC purchased a new position in Youdao during the third quarter worth about $102,000. Blue Trust Inc. grew its position in Youdao by 29.1% in the fourth quarter. Blue Trust Inc. now owns 8,733 shares of the company’s stock worth $65,000 after acquiring an additional 1,969 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Youdao during the fourth quarter valued at about $554,000. Norges Bank acquired a new stake in shares of Youdao in the fourth quarter valued at $715,000. Finally, Renaissance Technologies LLC increased its stake in Youdao by 3.3% during the fourth quarter. Renaissance Technologies LLC now owns 57,100 shares of the company’s stock worth $423,000 after purchasing an additional 1,800 shares during the period. Hedge funds and other institutional investors 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.