Youdao (NYSE:DAO) Shares Down 5.3% – Here’s Why

Youdao, Inc. (NYSE:DAO) dropped 5.3% during trading on Tuesday . The company traded as low as $7.20 and last traded at $7.19. Approximately 25,675 shares changed hands during trading, a decline of 65% from the average daily volume of 73,829 shares. The stock had previously closed at $7.60.

Wall Street Analysts Forecast Growth

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

Youdao Stock Up 0.2 %

The firm has a market cap of $920.44 million, a P/E ratio of 108.74 and a beta of 0.01. The firm has a fifty day moving average of $6.79 and a 200-day moving average of $5.00.

Institutional Investors Weigh In On Youdao

A number of institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC increased its holdings in 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 purchasing an additional 3,300 shares in the last quarter. Symmetry Peak Management LLC acquired a new position in shares of Youdao during the third quarter worth about $102,000. Finally, Blue Trust Inc. raised its position in Youdao by 29.1% in the 4th quarter. Blue Trust Inc. now owns 8,733 shares of the company’s stock valued at $65,000 after buying an additional 1,969 shares during the last quarter. 21.91% of the stock is owned by institutional investors and hedge funds.

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.