Youdao (NYSE:DAO) Stock Price Up 7% – Here’s What Happened

Youdao, Inc. (NYSE:DAO)’s stock price shot up 7% on Friday . The stock traded as high as $9.00 and last traded at $8.81. 38,215 shares were traded during trading, a decline of 68% from the average session volume of 121,100 shares. The stock had previously closed at $8.23.

Analyst Ratings Changes

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

Youdao Trading Up 7.6 %

The company has a market cap of $1.07 billion, a price-to-earnings ratio of 88.45 and a beta of 0.36. The stock’s 50-day moving average is $8.28 and its 200-day moving average is $6.24.

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Norges Bank bought a new position in Youdao in the 4th quarter valued at $715,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Youdao during the 4th quarter worth $554,000. Marshall Wace LLP purchased a new position in Youdao in the 4th quarter worth $479,000. Renaissance Technologies LLC raised its position in Youdao by 3.3% in the 4th quarter. Renaissance Technologies LLC now owns 57,100 shares of the company’s stock worth $423,000 after purchasing an additional 1,800 shares during the period. Finally, Walleye Capital LLC purchased a new position in shares of Youdao during the fourth quarter valued at approximately $401,000. 21.91% of the stock is currently owned by hedge funds and other institutional investors.

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.