Youdao (NYSE:DAO) Shares Gap Down – Here’s What Happened

Youdao, Inc. Unsponsored ADR (NYSE:DAO)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $11.27, but opened at $10.82. Youdao shares last traded at $10.9170, with a volume of 2,188 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of Youdao in a research note on Monday, December 22nd. Wall Street Zen cut Youdao from a “buy” rating to a “hold” rating in a research note on Sunday, November 30th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell”.

Youdao Trading Up 4.0%

The company has a 50-day moving average price of $10.07 and a two-hundred day moving average price of $9.71. The stock has a market capitalization of $1.35 billion, a P/E ratio of 66.47 and a beta of 0.27.

Hedge Funds Weigh In On Youdao

A hedge fund recently raised its stake in Youdao stock. Public Employees Retirement System of Ohio lifted its position in shares of Youdao, Inc. Unsponsored ADR (NYSE:DAO) by 34.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,557 shares of the company’s stock after purchasing an additional 5,565 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Youdao were worth $185,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 21.91% of the company’s stock.

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.