Youdao, Inc. (NYSE:DAO) Short Interest Up 10.9% in November

by · The Markets Daily

Youdao, Inc. (NYSE:DAO – Get Free Report) was the recipient of a significant growth in short interest in the month of November. As of November 15th, there was short interest totalling 202,100 shares, a growth of 10.9% from the October 31st total of 182,300 shares. Based on an average trading volume of 125,200 shares, the days-to-cover ratio is presently 1.6 days. Approximately 0.7% of the shares of the company are short sold.

Youdao Stock Performance

NYSE DAO traded down $0.47 during mid-day trading on Monday, reaching $6.25. 132,977 shares of the stock were exchanged, compared to its average volume of 116,801. The business’s 50 day moving average is $4.99 and its 200-day moving average is $4.05. Youdao has a 1 year low of $2.86 and a 1 year high of $7.16. The company has a market capitalization of $755.75 million, a P/E ratio of 89.29 and a beta of -0.06.

Hedge Funds Weigh In On Youdao

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Symmetry Peak Management LLC purchased a new position in Youdao during the third quarter valued at $102,000. Renaissance Technologies LLC lifted its stake in shares of Youdao by 6.7% in the second quarter. Renaissance Technologies LLC now owns 52,300 shares of the company’s stock worth $205,000 after buying an additional 3,300 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its stake in shares of Youdao by 98.4% in the second quarter. Acadian Asset Management LLC now owns 238,445 shares of the company’s stock worth $928,000 after buying an additional 118,245 shares in the last quarter. 21.91% of the stock is owned by hedge funds and other institutional investors.

About Youdao

(Get Free Report)

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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