Youdao (NYSE:DAO) Stock Price Up 3.4% – Time to Buy?

Youdao, Inc. Unsponsored ADR (NYSE:DAO) was up 3.4% during mid-day trading on Friday . The stock traded as high as $9.51 and last traded at $9.5050. Approximately 46,669 shares were traded during trading, a decline of 60% from the average daily volume of 117,744 shares. The stock had previously closed at $9.19.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Wall Street Zen downgraded Youdao from a “buy” rating to a “hold” rating in a research note 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, According to data from MarketBeat, Youdao has a consensus rating of “Sell”.

Youdao Trading Up 3.2%

The firm has a market capitalization of $1.13 billion, a P/E ratio of 55.77 and a beta of 0.24. The business’s fifty day moving average is $9.80 and its 200 day moving average is $9.36.

Hedge Funds Weigh In On Youdao

A number of hedge funds and other institutional investors have recently modified their holdings of DAO. Public Employees Retirement System of Ohio increased its stake in Youdao by 34.8% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 21,557 shares of the company’s stock worth $185,000 after purchasing an additional 5,565 shares in the last quarter. Walleye Trading LLC acquired a new position in shares of Youdao in the first quarter worth about $115,000. Vident Advisory LLC increased its position in shares of Youdao by 190.2% in the first quarter. Vident Advisory LLC now owns 57,192 shares of the company’s stock worth $436,000 after acquiring an additional 37,485 shares in the last quarter. Finally, Walleye Capital LLC increased its position in shares of Youdao by 226.1% in the first 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 in the last quarter. 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.