Youdao, Inc. (NYSE:DAO) Sees Large Drop in Short Interest

Youdao, Inc. (NYSE:DAO) saw a large decrease in short interest during the month of February. As of February 28th, there was short interest totalling 252,300 shares, a decrease of 17.0% from the February 13th total of 303,800 shares. Currently, 0.9% of the company’s shares are sold short. Based on an average trading volume of 181,700 shares, the days-to-cover ratio is currently 1.4 days.

Analyst Ratings Changes

Separately, Citigroup downgraded Youdao from a “buy” rating to a “neutral” rating in a research report on Thursday, December 19th.

Hedge Funds Weigh In On Youdao

Hedge funds and other institutional investors have recently made changes to their positions in the company. Blue Trust Inc. grew its position in shares of Youdao by 29.1% during the 4th quarter. Blue Trust Inc. now owns 8,733 shares of the company’s stock worth $65,000 after buying an additional 1,969 shares in the last quarter. Symmetry Peak Management LLC bought a new stake in Youdao during the third quarter valued at about $102,000. Bank of America Corp DE boosted its position in Youdao by 13,310.0% during the fourth quarter. Bank of America Corp DE now owns 32,050 shares of the company’s stock valued at $237,000 after purchasing an additional 31,811 shares in the last quarter. Jane Street Group LLC bought a new stake in Youdao during the fourth quarter valued at about $119,000. Finally, Public Employees Retirement System of Ohio boosted its position in Youdao by 754.1% during the fourth quarter. Public Employees Retirement System of Ohio now owns 9,421 shares of the company’s stock valued at $70,000 after purchasing an additional 8,318 shares in the last quarter. Institutional investors own 21.91% of the company’s stock.

Youdao Trading Down 4.2 %

Shares of DAO traded down $0.37 during midday trading on Tuesday, reaching $8.44. 154,525 shares of the stock were exchanged, compared to its average volume of 121,681. Youdao has a 52 week low of $2.86 and a 52 week high of $11.82. The company’s 50 day moving average is $8.36 and its two-hundred day moving average is $6.36. The company has a market capitalization of $1.02 billion, a P/E ratio of 84.40 and a beta of 0.36.

Youdao (NYSE:DAO) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.10 earnings per share (EPS) for the quarter. Youdao had a negative return on equity of 3.75% and a net margin of 1.50%. The business had revenue of $183.55 million for the quarter.

Youdao Company Profile

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.