Youdao (NYSE:DAO) Stock Price Up 7.8% - Here's What Happened

Key Points

• Youdao's share price rose 7.8% to $10.52 during trading, despite a 74% decline in trading volume.
• Analysts at Wall Street Zen upgraded Youdao from a “hold” to a “buy” rating on August 9th.
• The company reported a loss of ($0.02) earnings per share for the last quarter, with revenue significantly below expectations at $197.82 million.

Youdao, Inc. Unsponsored ADR (NYSE:DAO - Get Free Report)'s share price was up 7.8% during trading on Friday . The company traded as high as $9.94 and last traded at $10.52. Approximately 31,633 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 122,636 shares. The stock had previously closed at $9.76.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered Youdao from a "buy" rating to a "hold" rating in a report on Sunday. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of "Hold".

Youdao Stock Performance

The stock's fifty day moving average price is $8.80 and its 200-day moving average price is $8.68. The company has a market capitalization of $1.10 billion, a P/E ratio of 32.77 and a beta of 0.24.

Youdao (NYSE:DAO - Get Free Report) last issued its earnings results on Thursday, August 14th. The company reported ($0.02) earnings per share (EPS) for the quarter. The firm had revenue of $197.82 million during the quarter, compared to the consensus estimate of $1.38 billion. Youdao had a net margin of 4.05% and a negative return on equity of 12.10%.

Institutional Trading of Youdao

Hedge funds have recently made changes to their positions in the business. Bank of America Corp DE lifted its position in shares of Youdao by 13,310.0% in the fourth quarter. Bank of America Corp DE now owns 32,050 shares of the company's stock valued at $237,000 after buying an additional 31,811 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of Youdao in the fourth quarter valued at approximately $119,000. Public Employees Retirement System of Ohio lifted its position in shares of Youdao by 754.1% in the fourth quarter. Public Employees Retirement System of Ohio now owns 9,421 shares of the company's stock valued at $70,000 after buying an additional 8,318 shares during the last quarter. Walleye Capital LLC acquired a new stake in shares of Youdao in the fourth quarter valued at approximately $401,000. Finally, Marshall Wace LLP acquired a new stake in shares of Youdao in the fourth quarter valued at approximately $479,000. 21.91% of the stock is 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.