Youdao (NYSE:DAO) Trading Down 4.1% – Here’s What Happened

Youdao, Inc. (NYSE:DAO)’s share price dropped 4.1% on Thursday . The stock traded as low as $7.02 and last traded at $7.10. Approximately 8,284 shares were traded during trading, a decline of 93% from the average daily volume of 119,351 shares. The stock had previously closed at $7.40.

Wall Street Analyst Weigh In

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

Youdao Stock Performance

The company has a 50-day moving average of $6.24 and a 200 day moving average of $4.63. The firm has a market cap of $856.11 million, a P/E ratio of 101.14 and a beta of 0.04.

Hedge Funds Weigh In On Youdao

Several institutional investors have recently added to or reduced their stakes in the company. Symmetry Peak Management LLC acquired a new stake in shares of Youdao during the third quarter worth approximately $102,000. Renaissance Technologies LLC raised 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 during the last quarter. Finally, Acadian Asset Management LLC raised its position in shares of Youdao by 98.4% during the 2nd quarter. Acadian Asset Management LLC now owns 238,445 shares of the company’s stock valued at $928,000 after acquiring an additional 118,245 shares during the last quarter. 21.91% of the stock is owned by institutional investors.

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.