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

Youdao, Inc. (NYSE:DAO) gapped up prior to trading on Thursday . The stock had previously closed at $8.68, but opened at $9.96. Youdao shares last traded at $9.72, with a volume of 47,287 shares trading hands.

Youdao Stock Up 1.8%

The firm’s 50-day moving average price is $8.11 and its 200-day moving average price is $7.57. The company has a market cap of $1.16 billion, a P/E ratio of 96.20 and a beta of 0.35.

Youdao (NYSE:DAO) last posted its quarterly earnings results on Thursday, May 15th. The company reported $0.09 earnings per share (EPS) for the quarter. Youdao had a net margin of 1.50% and a negative return on equity of 3.75%.

Institutional Trading of Youdao

Several hedge funds and other institutional investors have recently modified their holdings of the business. 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 acquiring an additional 122,450 shares during the period. Norges Bank bought a new stake in Youdao during the 4th quarter worth approximately $715,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Youdao during the 4th quarter worth approximately $554,000. Marshall Wace LLP bought a new stake in Youdao during the 4th quarter worth approximately $479,000. Finally, Vident Advisory LLC increased its holdings in Youdao by 190.2% during the 1st quarter. Vident Advisory LLC now owns 57,192 shares of the company’s stock worth $436,000 after acquiring an additional 37,485 shares during the period. 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.