Youdao (NYSE:DAO) Shares Gap Up – Still a Buy?

Youdao, Inc. (NYSE:DAO) gapped up before the market opened on Thursday . The stock had previously closed at $9.06, but opened at $9.50. Youdao shares last traded at $8.95, with a volume of 49,591 shares changing hands.

Analyst Upgrades and Downgrades

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

Youdao Price Performance

The company has a market capitalization of $1.07 billion, a PE ratio of 88.85 and a beta of 0.36. The company’s fifty day moving average is $8.14 and its 200-day moving average is $6.06.

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

Institutional Investors Weigh In On Youdao

Several institutional investors have recently bought and sold shares of DAO. Renaissance Technologies LLC grew its stake in Youdao by 3.3% during the 4th quarter. Renaissance Technologies LLC now owns 57,100 shares of the company’s stock valued at $423,000 after purchasing an additional 1,800 shares during the last quarter. Blue Trust Inc. lifted its position in Youdao by 29.1% during the fourth quarter. Blue Trust Inc. now owns 8,733 shares of the company’s stock valued at $65,000 after purchasing an additional 1,969 shares during the period. Vident Advisory LLC boosted its holdings in Youdao by 35.6% in the fourth quarter. Vident Advisory LLC now owns 19,707 shares of the company’s stock valued at $146,000 after purchasing an additional 5,170 shares during the last quarter. Public Employees Retirement System of Ohio grew its position in Youdao by 754.1% during the 4th quarter. Public Employees Retirement System of Ohio now owns 9,421 shares of the company’s stock worth $70,000 after purchasing an additional 8,318 shares during the period. Finally, Jane Street Group LLC purchased a new position in Youdao during the fourth quarter valued at approximately $119,000. 21.91% of the stock is currently owned by institutional investors and hedge funds.

About Youdao

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.