Youdao, Inc. (NYSE:DAO) Short Interest Down 33.0% in March

Youdao, Inc. (NYSE:DAOGet Rating) was the recipient of a significant drop in short interest during the month of March. As of March 31st, there was short interest totalling 676,500 shares, a drop of 33.0% from the March 15th total of 1,010,000 shares. Based on an average trading volume of 225,900 shares, the short-interest ratio is currently 3.0 days.

DAO has been the topic of a number of recent research reports. Citigroup raised shares of Youdao from a “neutral” rating to a “buy” rating and raised their target price for the stock from $15.00 to $15.50 in a report on Friday, February 25th. Morgan Stanley raised shares of Youdao from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $13.00 to $15.00 in a report on Monday, March 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Youdao currently has an average rating of “Hold” and a consensus target price of $15.67.

A number of large investors have recently made changes to their positions in the stock. Citigroup Inc. raised its holdings in Youdao by 22.3% during the third quarter. Citigroup Inc. now owns 4,468 shares of the company’s stock worth $54,000 after purchasing an additional 814 shares in the last quarter. Royal Bank of Canada raised its holdings in Youdao by 67.1% during the third quarter. Royal Bank of Canada now owns 3,342 shares of the company’s stock worth $40,000 after purchasing an additional 1,342 shares in the last quarter. California Public Employees Retirement System raised its holdings in Youdao by 2.0% during the fourth quarter. California Public Employees Retirement System now owns 70,298 shares of the company’s stock worth $877,000 after purchasing an additional 1,353 shares in the last quarter. Daiwa Securities Group Inc. bought a new stake in Youdao during the third quarter worth approximately $55,000. Finally, Legal & General Group Plc bought a new stake in Youdao during the fourth quarter worth approximately $61,000. 30.67% of the stock is currently owned by hedge funds and other institutional investors.

Shares of DAO traded down $0.19 during mid-day trading on Monday, reaching $6.61. 124,868 shares of the company’s stock traded hands, compared to its average volume of 217,600. The firm’s 50-day simple moving average is $9.43. The company has a market cap of $819.51 million, a PE ratio of -5.25 and a beta of -0.69. Youdao has a 12 month low of $5.46 and a 12 month high of $27.78.

Youdao (NYSE:DAOGet Rating) last released its quarterly earnings results on Thursday, February 24th. The company reported ($0.23) earnings per share for the quarter. The firm had revenue of $164.58 million during the quarter, compared to the consensus estimate of $175.22 million. Sell-side analysts forecast that Youdao will post -0.53 earnings per share for the current fiscal year.

Youdao Company Profile (Get Rating)

Youdao, Inc, an internet technology company, provides online services in content, community, communication, and commerce in China. The company provides various learning content, applications, and solutions, which covers topics and targets people from various age groups for their learning needs through its websites and mobile applications; Youdao Dictionary with range of products and services addressing lifelong learning needs of pre-school, K-12 and college students as well as adult learners; and other online dictionary and translation tools comprising Youdao Translation, U-Dictionary, and Youdao Kids' Dictionary.

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