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

Youdao, Inc. Unsponsored ADR (NYSE:DAO)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $8.43, but opened at $8.87. Youdao shares last traded at $9.0850, with a volume of 1,779 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on DAO shares. Wall Street Zen cut Youdao from a “buy” rating to a “hold” rating in a research note on Sunday, November 30th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Youdao in a research report on Monday, December 8th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Youdao presently has a consensus rating of “Sell”.

Youdao Trading Up 1.6%

The company’s fifty day moving average is $10.03 and its 200-day moving average is $9.35. The firm has a market capitalization of $1.08 billion, a P/E ratio of 53.24 and a beta of 0.24.

Hedge Funds Weigh In On Youdao

A number of institutional investors have recently made changes to their positions in DAO. Walleye Capital LLC lifted its position in shares of 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 purchasing an additional 122,450 shares during the last quarter. Walleye Trading LLC acquired a new position in shares of Youdao during the first quarter worth approximately $115,000. Vident Advisory LLC lifted its holdings in shares of Youdao by 190.2% during the first quarter. Vident Advisory LLC now owns 57,192 shares of the company’s stock worth $436,000 after buying an additional 37,485 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its position in shares of Youdao by 34.8% in the second quarter. Public Employees Retirement System of Ohio now owns 21,557 shares of the company’s stock valued at $185,000 after acquiring an additional 5,565 shares during the period. 21.91% of the stock is currently owned by institutional investors.

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.