Youdao, Inc. (NYSE:DAO) Short Interest Down 17.4% in April

Youdao, Inc. (NYSE:DAO – Get Rating) was the recipient of a large decline in short interest during the month of April. As of April 30th, there was short interest totalling 371,900 shares, a decline of 17.4% from the April 15th total of 450,100 shares. Based on an average daily volume of 286,600 shares, the days-to-cover ratio is presently 1.3 days. Currently, 1.2% of the company’s shares are short sold.

Institutional Trading of Youdao

Several large investors have recently modified their holdings of DAO. OLD Mission Capital LLC acquired a new stake in Youdao in the fourth quarter valued at about $49,000. Northern Trust Corp acquired a new stake in Youdao in the second quarter valued at about $59,000. Russell Investments Group Ltd. acquired a new stake in Youdao in the first quarter valued at about $61,000. Envestnet Asset Management Inc. acquired a new stake in Youdao in the fourth quarter valued at about $65,000. Finally, Virtu Financial LLC acquired a new stake in Youdao in the second quarter valued at about $69,000. 18.44% of the stock is owned by institutional investors and hedge funds.

Youdao Stock Down 20.9 %

Shares of Youdao stock opened at $5.01 on Friday. Youdao has a 12-month low of $3.03 and a 12-month high of $10.00. The stock has a market cap of $631.10 million, a P/E ratio of -5.69 and a beta of -0.24. The business’s 50 day moving average is $7.17 and its 200-day moving average is $6.40.

Youdao (NYSE:DAO – Get Rating) last posted its quarterly earnings results on Thursday, February 23rd. The company reported $0.01 earnings per share for the quarter. The business had revenue of $210.81 million during the quarter, compared to the consensus estimate of $223.65 million.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Jefferies Financial Group raised Youdao from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $4.60 to $10.00 in a report on Friday, February 24th. Daiwa Capital Markets raised Youdao from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $4.00 to $9.50 in a report on Monday, March 20th.

About Youdao

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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.