Youdao (NYSE:DAO) Cut to Neutral at Citigroup

Citigroup lowered shares of Youdao (NYSE:DAO) from a buy rating to a neutral rating in a research report report published on Thursday, MarketBeat.com reports.

Youdao Stock Performance

Youdao stock opened at $7.05 on Thursday. Youdao has a fifty-two week low of $2.86 and a fifty-two week high of $8.01. The firm’s 50-day simple moving average is $5.77 and its 200 day simple moving average is $4.40. The stock has a market cap of $852.49 million, a PE ratio of 100.71 and a beta of 0.04.

Hedge Funds Weigh In On Youdao

Institutional investors have recently modified their holdings of the business. Symmetry Peak Management LLC purchased a new position in Youdao in the third quarter worth $102,000. 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 purchasing an additional 3,300 shares during the period. Finally, Acadian Asset Management LLC boosted its holdings in shares of Youdao by 98.4% in the 2nd 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 last quarter. 21.91% of the stock is owned by institutional investors.

About Youdao

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.