Youdao (NYSE:DAO) Shares Gap Down – Here’s Why

Youdao, Inc. Unsponsored ADR (NYSE:DAO) gapped down before the market opened on Thursday . The stock had previously closed at $9.75, but opened at $9.20. Youdao shares last traded at $9.3050, with a volume of 19,338 shares traded.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on DAO. Weiss Ratings restated a “sell (d+)” rating on shares of Youdao in a research note on Wednesday, October 8th. Wall Street Zen upgraded shares of Youdao from a “hold” rating to a “buy” rating in a report on Saturday. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce”.

Youdao Stock Performance

The stock has a 50 day moving average of $10.16 and a 200 day moving average of $9.33. The stock has a market capitalization of $1.15 billion, a P/E ratio of 56.53 and a beta of 0.36.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Walleye Capital LLC boosted its position in shares of Youdao by 226.1% during the first quarter. Walleye Capital LLC now owns 176,599 shares of the company’s stock worth $1,347,000 after buying an additional 122,450 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Youdao by 83.5% during 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 in the last quarter. Vident Advisory LLC increased its stake in Youdao by 190.2% during the 1st 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 during the period. Public Employees Retirement System of Ohio raised its position in shares of Youdao by 35.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 29,286 shares of the company’s stock worth $291,000 after buying an additional 7,729 shares in the last quarter. Finally, Walleye Trading LLC acquired a new stake in shares of Youdao in the 1st quarter worth approximately $115,000. 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.