Youdao (NYSE:DAO) Trading 5.4% Higher – Time to Buy?

Youdao, Inc. (NYSE:DAO) shot up 5.4% during mid-day trading on Wednesday . The company traded as high as $7.99 and last traded at $8.10. 2,133 shares were traded during mid-day trading, a decline of 98% from the average session volume of 123,749 shares. The stock had previously closed at $7.68.

Analyst Ratings Changes

Separately, Citigroup lowered shares of Youdao from a “buy” rating to a “neutral” rating in a research note on Thursday, December 19th.

Youdao Stock Up 4.4 %

The company has a market cap of $969.17 million, a price-to-earnings ratio of 80.15 and a beta of 0.36. The business has a 50-day simple moving average of $8.63 and a two-hundred day simple moving average of $6.73.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC lifted its position in Youdao by 3.3% during the 4th quarter. Renaissance Technologies LLC now owns 57,100 shares of the company’s stock worth $423,000 after acquiring an additional 1,800 shares during the last quarter. Blue Trust Inc. increased its stake in shares of 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 purchasing an additional 1,969 shares during the period. Vident Advisory LLC lifted its position in shares of Youdao by 35.6% during the 4th quarter. Vident Advisory LLC now owns 19,707 shares of the company’s stock worth $146,000 after purchasing an additional 5,170 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in Youdao by 754.1% during the 4th quarter. Public Employees Retirement System of Ohio now owns 9,421 shares of the company’s stock valued at $70,000 after purchasing an additional 8,318 shares during the period. Finally, Jane Street Group LLC acquired a new stake in Youdao in the 4th quarter valued at approximately $119,000. 21.91% of the stock is currently owned by institutional investors and hedge funds.

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.