Short Interest in Youdao, Inc. (NYSE:DAO) Grows By 10.9%

Youdao, Inc. (NYSE:DAO) was the target of a large increase in short interest in November. As of November 15th, there was short interest totalling 202,100 shares, an increase of 10.9% from the October 31st total of 182,300 shares. Approximately 0.7% of the company’s stock are sold short. Based on an average daily volume of 125,200 shares, the days-to-cover ratio is presently 1.6 days.

Institutional Investors Weigh In On Youdao

Hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC raised its holdings in 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 purchasing an additional 118,245 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Youdao by 6.7% during the 2nd quarter. Renaissance Technologies LLC now owns 52,300 shares of the company’s stock worth $205,000 after acquiring an additional 3,300 shares in the last quarter. Finally, Symmetry Peak Management LLC purchased a new stake in Youdao during the third quarter valued at approximately $102,000. 21.91% of the stock is currently owned by hedge funds and other institutional investors.

Youdao Stock Performance

Youdao stock traded up $0.36 during mid-day trading on Tuesday, reaching $6.61. 177,340 shares of the company were exchanged, compared to its average volume of 117,061. Youdao has a 12-month low of $2.86 and a 12-month high of $7.16. The business has a fifty day moving average of $5.12 and a 200 day moving average of $4.08. The firm has a market cap of $799.28 million, a P/E ratio of 94.43 and a beta of 0.04.

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.