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

Youdao, Inc. Unsponsored ADR (NYSE:DAO)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $9.64, but opened at $10.08. Youdao shares last traded at $10.19, with a volume of 977 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on DAO shares. Wall Street Zen cut Youdao from a “buy” rating to a “hold” rating in a research report on Sunday, November 30th. Weiss Ratings restated a “sell (d+)” rating on shares of Youdao in a research note on Monday, December 22nd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of “Sell”.

Youdao Stock Performance

The company has a market capitalization of $1.24 billion, a P/E ratio of 60.09 and a beta of 0.27. The business’s fifty day simple moving average is $9.72 and its 200-day simple moving average is $9.38.

Hedge Funds Weigh In On Youdao

A hedge fund recently raised its stake in Youdao stock. Public Employees Retirement System of Ohio grew its position in Youdao, Inc. Unsponsored ADR (NYSE:DAO) by 35.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,286 shares of the company’s stock after acquiring an additional 7,729 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Youdao were worth $291,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 21.91% of the company’s stock.

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.