Youdao, Inc. (NYSE:DAO) Sees Large Increase in Short Interest

Youdao, Inc. (NYSE:DAO) was the target of a large growth in short interest in March. As of March 31st, there was short interest totalling 413,900 shares, a growth of 7.0% from the March 15th total of 386,700 shares. Based on an average trading volume of 154,800 shares, the days-to-cover ratio is currently 2.7 days. Currently, 1.4% of the shares of the stock are short sold.

Youdao Stock Down 4.5 %

Shares of Youdao stock opened at $3.81 on Tuesday. The firm has a market cap of $475.45 million, a PE ratio of -6.05 and a beta of -0.11. The business’s fifty day moving average is $4.08 and its two-hundred day moving average is $3.98. Youdao has a fifty-two week low of $2.94 and a fifty-two week high of $6.71.

Youdao (NYSE:DAO) last issued its earnings results on Thursday, February 29th. The company reported $0.08 earnings per share (EPS) for the quarter. The business had revenue of $208.53 million during the quarter.

Hedge Funds Weigh In On Youdao

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC raised its holdings in shares of Youdao by 16.0% during the 3rd quarter. Renaissance Technologies LLC now owns 29,700 shares of the company’s stock valued at $117,000 after purchasing an additional 4,100 shares in the last quarter. Bank of America Corp DE raised its holdings in Youdao by 305.4% in the 1st quarter. Bank of America Corp DE now owns 8,505 shares of the company’s stock worth $72,000 after acquiring an additional 6,407 shares during the period. State Street Corp raised its holdings in Youdao by 3.1% in the 1st quarter. State Street Corp now owns 219,217 shares of the company’s stock worth $1,556,000 after acquiring an additional 6,552 shares during the period. Envestnet Asset Management Inc. raised its holdings in Youdao by 45.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 22,100 shares of the company’s stock worth $109,000 after acquiring an additional 6,954 shares during the period. Finally, Russell Investments Group Ltd. bought a new position in shares of Youdao during the 1st quarter worth about $61,000. Institutional investors and hedge funds own 21.91% of the company’s stock.

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.