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

Shares of 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 traded 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 Analyst Weigh In

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

Youdao Trading Down 1.5 %

The firm has a 50-day moving average price of $6.90 and a 200-day moving average price of $5.04. The company has a market capitalization of $943.78 million, a price-to-earnings ratio of 111.50 and a beta of 0.01.

Institutional Trading of Youdao

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. boosted its holdings in shares of Youdao by 29.1% in the fourth quarter. Blue Trust Inc. now owns 8,733 shares of the company’s stock worth $65,000 after buying an additional 1,969 shares during the period. Symmetry Peak Management LLC purchased a new stake in shares of Youdao in the 3rd quarter valued at approximately $102,000. Finally, Renaissance Technologies LLC boosted its stake in Youdao by 6.7% in 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. 21.91% of the stock is owned by institutional investors and hedge funds.

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.