Youdao (NYSE:DAO) Trading Up 5.9% – Here’s Why

Youdao, Inc. Unsponsored ADR (NYSE:DAO) was up 5.9% during mid-day trading on Wednesday . The company traded as high as $12.29 and last traded at $12.5550. Approximately 281 shares changed hands during trading, a decline of 100% from the average daily volume of 85,687 shares. The stock had previously closed at $11.85.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on DAO shares. Wall Street Zen raised shares of Youdao from a “hold” rating to a “buy” rating in a report on Saturday, April 18th. Citigroup upgraded Youdao from a “hold” rating to a “buy” rating in a research report on Thursday, February 12th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold”.

Youdao Stock Up 5.5%

The stock has a market capitalization of $1.52 billion, a PE ratio of 97.35 and a beta of 0.57. The company has a 50-day moving average of $10.66 and a 200 day moving average of $10.31.

Institutional Trading of Youdao

A hedge fund recently raised its stake in Youdao stock. Public Employees Retirement System of Ohio lifted its stake in shares of Youdao, Inc. Unsponsored ADR (NYSE:DAO) by 35.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 29,286 shares of the company’s stock after acquiring an additional 7,729 shares during the period. Public Employees Retirement System of Ohio’s holdings in Youdao were worth $291,000 as of its most recent filing with the Securities & Exchange Commission. 21.91% of the stock is owned by institutional investors and hedge funds.

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.