Youdao (NYSE:DAO) Trading 7.8% Higher – Here’s What Happened

Youdao, Inc. Unsponsored ADR (NYSE:DAO) shot up 7.8% during mid-day trading on Friday . The stock traded as high as $9.85 and last traded at $9.81. 58,614 shares changed hands during trading, a decline of 51% from the average session volume of 118,532 shares. The stock had previously closed at $9.10.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Weiss Ratings restated a “sell (d+)” rating on shares of Youdao in a research report on Wednesday, October 8th. Wall Street Zen raised Youdao from a “hold” rating to a “buy” rating in a research note on Saturday, November 22nd. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce”.

Youdao Trading Up 10.7%

The firm has a market capitalization of $1.20 billion, a PE ratio of 59.24 and a beta of 0.36. The stock’s 50 day moving average price is $10.19 and its two-hundred day moving average price is $9.34.

Institutional Trading of Youdao

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DAO. Walleye Trading LLC acquired a new position in Youdao in the 1st quarter valued at $115,000. Public Employees Retirement System of Ohio boosted its position in Youdao by 34.8% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 21,557 shares of the company’s stock worth $185,000 after purchasing an additional 5,565 shares during the period. Vident Advisory LLC grew its stake in shares of Youdao by 190.2% in the first quarter. Vident Advisory LLC now owns 57,192 shares of the company’s stock valued at $436,000 after buying an additional 37,485 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Youdao by 83.5% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 137,456 shares of the company’s stock valued at $1,049,000 after purchasing an additional 62,568 shares during the period. Finally, Walleye Capital LLC increased its holdings in 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. Hedge funds and other institutional investors own 21.91% of the company’s stock.

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.