Short Interest in Youdao, Inc. (NYSE:DAO) Increases By 29.4%

Youdao, Inc. (NYSE:DAO) saw a significant growth in short interest in March. As of March 15th, there was short interest totalling 326,600 shares, a growth of 29.4% from the February 28th total of 252,300 shares. Based on an average trading volume of 177,900 shares, the days-to-cover ratio is currently 1.8 days. Currently, 1.2% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

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

Youdao Stock Performance

Shares of NYSE DAO traded down $0.46 during midday trading on Monday, reaching $7.67. 178,912 shares of the company’s stock were exchanged, compared to its average volume of 124,049. Youdao has a 52-week low of $2.86 and a 52-week high of $11.82. The business’s fifty day moving average price is $8.61 and its two-hundred day moving average price is $6.70. The stock has a market capitalization of $927.46 million, a PE ratio of 76.70 and a beta of 0.36.

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

Institutional Investors Weigh In On Youdao

Hedge funds have recently added to or reduced their stakes in the stock. Symmetry Peak Management LLC acquired a new position in shares of Youdao during the third quarter valued at $102,000. Blue Trust Inc. raised its position in shares of Youdao by 29.1% during the 4th quarter. Blue Trust Inc. now owns 8,733 shares of the company’s stock worth $65,000 after buying an additional 1,969 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Youdao during the 4th quarter worth about $554,000. Norges Bank acquired a new stake in shares of Youdao in the 4th quarter worth approximately $715,000. Finally, Renaissance Technologies LLC boosted its holdings in shares of Youdao by 3.3% in the fourth quarter. Renaissance Technologies LLC now owns 57,100 shares of the company’s stock valued at $423,000 after acquiring an additional 1,800 shares in the last quarter. 21.91% of the stock is currently owned by institutional investors.

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.