Short Interest in Youdao, Inc. (NYSE:DAO) Rises By 29.4%

Youdao, Inc. (NYSE:DAO) was the target of a significant growth in short interest in March. As of March 15th, there was short interest totalling 326,600 shares, a growth of 29.4% from the February 28th total of 252,300 shares. Currently, 1.2% of the shares of the stock are short sold. Based on an average trading volume of 177,900 shares, the days-to-cover ratio is currently 1.8 days.

Hedge Funds Weigh In On Youdao

Several large investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in Youdao in the 4th quarter valued at about $715,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Youdao in the fourth quarter valued at approximately $554,000. Marshall Wace LLP acquired a new position in Youdao during the fourth quarter worth approximately $479,000. Renaissance Technologies LLC raised its stake in Youdao by 3.3% during the fourth quarter. Renaissance Technologies LLC now owns 57,100 shares of the company’s stock worth $423,000 after purchasing an additional 1,800 shares during the period. Finally, Walleye Capital LLC acquired a new position in shares of Youdao in the 4th quarter valued at $401,000. 21.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Youdao Trading Up 4.2 %

Shares of NYSE DAO traded up $0.32 during midday trading on Wednesday, reaching $8.00. 108,959 shares of the stock were exchanged, compared to its average volume of 124,149. The company has a market capitalization of $967.36 million, a P/E ratio of 80.00 and a beta of 0.36. The stock has a 50 day moving average price of $8.63 and a 200-day moving average price of $6.73. Youdao has a 52-week low of $2.86 and a 52-week high of $11.82.

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