Youdao (NYSE:DAO) Sees Large Volume Increase - Time to Buy?

Key Points

• Youdao, Inc. (NYSE:DAO) experienced a significant increase in trading volume, with approximately 130,892 shares traded, marking a 9% rise from the previous session.
• Wall Street Zen upgraded Youdao from a "hold" rating to a "buy" rating on August 9th, indicating positive sentiment among analysts.
• In its latest quarterly earnings, Youdao reported earnings of $0.09 per share, falling short of the $0.21 consensus estimate, with revenue significantly below expectations at $191.74 million.

Shares of Youdao, Inc. Unsponsored ADR (NYSE:DAO - Get Free Report) saw unusually-high trading volume on Thursday . Approximately 130,892 shares changed hands during trading, an increase of 9% from the previous session's volume of 120,445 shares.The stock last traded at $8.88 and had previously closed at $8.88.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded Youdao from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th.

Youdao Stock Performance

The company has a market capitalization of $1.06 billion, a P/E ratio of 49.31 and a beta of 0.24. The firm has a 50 day moving average price of $8.76 and a two-hundred day moving average price of $8.63.

Youdao (NYSE:DAO - Get Free Report) last released its quarterly earnings data on Thursday, May 15th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.12). Youdao had a net margin of 2.67% and a negative return on equity of 6.87%. The company had revenue of $191.74 million during the quarter, compared to the consensus estimate of $1.30 billion.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of DAO. Bank of America Corp DE lifted its holdings in Youdao by 13,310.0% during the 4th quarter. Bank of America Corp DE now owns 32,050 shares of the company's stock worth $237,000 after buying an additional 31,811 shares in the last quarter. Jane Street Group LLC acquired a new position in Youdao during the 4th quarter worth $119,000. Public Employees Retirement System of Ohio lifted its stake in shares of Youdao by 754.1% in the 4th 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 during the period. Walleye Capital LLC acquired a new position in shares of Youdao in the 4th quarter valued at $401,000. Finally, Renaissance Technologies LLC lifted its stake in shares of Youdao by 3.3% in 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 period. 21.91% of the stock is owned by institutional investors and hedge funds.

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.

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