Youdao (NYSE:DAO) Trading 7.9% Higher – Here’s What Happened

Shares of Youdao, Inc. Unsponsored ADR (NYSE:DAO) were up 7.9% during trading on Friday . The stock traded as high as $15.14 and last traded at $15.2890. Approximately 30,458 shares traded hands during mid-day trading, a decline of 66% from the average session volume of 89,177 shares. The stock had previously closed at $14.17.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Weiss Ratings cut shares of Youdao from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, June 29th. Wall Street Zen downgraded shares of Youdao from a “buy” rating to a “hold” rating in a research report on Saturday, May 23rd. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Youdao presently has a consensus rating of “Hold”.

Youdao Stock Up 6.7%

The stock has a market capitalization of $1.82 billion, a price-to-earnings ratio of 168.00 and a beta of 0.56. The business’s 50 day simple moving average is $12.25 and its 200-day simple moving average is $11.10.

Youdao (NYSE:DAO) last issued its quarterly earnings results on Thursday, May 21st. The company reported $0.05 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.05. The company had revenue of $195.52 million during the quarter, compared to the consensus estimate of $201.43 million. Youdao had a net margin of 1.19% and a negative return on equity of 4.51%.

Institutional Investors Weigh In On Youdao

A hedge fund recently raised its stake in Youdao stock. Public Employees Retirement System of Ohio lifted its holdings in shares of Youdao, Inc. Unsponsored ADR (NYSE:DAO) by 35.9% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 29,286 shares of the company’s stock after buying an additional 7,729 shares during the period. Public Employees Retirement System of Ohio’s holdings in Youdao were worth $291,000 as of its most recent filing with the SEC. 21.91% of the stock is currently owned by institutional investors and hedge funds.

Youdao Company Profile

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.