Youdao (NYSE:DAO) Downgraded to Neutral Rating by Citigroup

Youdao (NYSE:DAO) was downgraded by Citigroup from a “buy” rating to a “neutral” rating in a research note issued to investors on Thursday,Finviz reports.

Youdao Trading Down 6.3 %

Shares of DAO traded down $0.46 during trading hours on Thursday, reaching $6.82. The company had a trading volume of 98,785 shares, compared to its average volume of 119,052. Youdao has a 12-month low of $2.86 and a 12-month high of $8.01. The firm has a 50 day simple moving average of $5.69 and a 200-day simple moving average of $4.36. The company has a market capitalization of $824.67 million, a price-to-earnings ratio of 97.43 and a beta of 0.04.

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 business. Acadian Asset Management LLC lifted its position in Youdao by 98.4% during 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 during the period. Symmetry Peak Management LLC purchased a new position in Youdao during the third quarter worth approximately $102,000. Finally, Renaissance Technologies LLC boosted its holdings in shares of Youdao by 6.7% in the 2nd quarter. Renaissance Technologies LLC now owns 52,300 shares of the company’s stock valued at $205,000 after purchasing an additional 3,300 shares during the last quarter. 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.