Youdao (NYSE:DAO) Sees Strong Trading Volume – Here’s Why

Shares of Youdao, Inc. Unsponsored ADR (NYSE:DAO) saw unusually-high trading volume on Tuesday . Approximately 219,308 shares traded hands during trading, an increase of 158% from the previous session’s volume of 84,889 shares.The stock last traded at $15.9110 and had previously closed at $16.39.

Wall Street Analyst Weigh In

A number of analysts have recently commented on DAO shares. Weiss Ratings upgraded Youdao from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, July 17th. Wall Street Zen upgraded Youdao from a “hold” rating to a “buy” rating in a report on Saturday, August 22nd. Finally, Citigroup lifted their target price on Youdao from $14.90 to $22.00 and gave the company a “buy” rating in a research report on Monday, August 24th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $22.00.

Youdao Stock Down 9.8%

The firm has a market cap of $1.78 billion, a price-to-earnings ratio of 73.92 and a beta of 0.52. The company’s fifty day moving average is $15.40 and its 200 day moving average is $12.46.

Youdao (NYSE:DAO) last issued its quarterly earnings results on Thursday, August 20th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.09. Youdao had a net margin of 2.71% and a negative return on equity of 8.46%. The firm had revenue of $215.91 million for the quarter, compared to analyst estimates of $229.02 million.

Hedge Funds Weigh In On Youdao

A hedge fund recently raised its stake in Youdao stock. Public Employees Retirement System of Ohio increased its stake in shares of Youdao, Inc. Unsponsored ADR (NYSE:DAO) by 35.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor 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 SEC. 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.