Youdao (NYSE:DAO) Stock Price Down 4.1% – Here’s Why

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

Analyst Ratings Changes

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

Youdao Stock Performance

The stock has a market cap of $858.53 million, a P/E ratio of 101.43 and a beta of 0.04. The firm has a 50-day moving average price of $6.15 and a 200-day moving average price of $4.59.

Hedge Funds Weigh In On Youdao

Several institutional investors and hedge funds have recently added to or reduced their stakes in DAO. Symmetry Peak Management LLC bought a new position in shares of Youdao in the 3rd quarter worth about $102,000. Renaissance Technologies LLC increased its stake in shares of Youdao by 6.7% during the second 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 in the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in shares of Youdao by 98.4% during the second quarter. Acadian Asset Management LLC now owns 238,445 shares of the company’s stock valued at $928,000 after purchasing an additional 118,245 shares during the last quarter. Hedge funds and other institutional investors own 21.91% of the company’s stock.

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.