Youdao (NYSE:DAO) Shares Down 6.9% – Here’s Why

Youdao, Inc. (NYSE:DAO)’s stock price traded down 6.9% on Friday . The company traded as low as $7.30 and last traded at $7.50. 33,424 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 122,880 shares. The stock had previously closed at $8.06.

Analyst Upgrades and Downgrades

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

Youdao Trading Up 1.0 %

The stock has a 50 day moving average of $8.58 and a 200-day moving average of $6.59. The company has a market capitalization of $984.29 million, a P/E ratio of 81.41 and a beta of 0.36.

Youdao (NYSE:DAO) last issued its earnings results on Thursday, February 20th. The company reported $0.10 earnings per share (EPS) for the quarter. The firm had revenue of $183.55 million during the quarter. Youdao had a net margin of 1.50% and a negative return on equity of 3.75%.

Hedge Funds Weigh In On Youdao

A number of large investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio lifted its holdings in shares of Youdao by 754.1% in the 4th quarter. Public Employees Retirement System of Ohio now owns 9,421 shares of the company’s stock worth $70,000 after acquiring an additional 8,318 shares during the last quarter. Vident Advisory LLC increased its position in Youdao by 35.6% during the fourth quarter. Vident Advisory LLC now owns 19,707 shares of the company’s stock worth $146,000 after buying an additional 5,170 shares during the period. Bank of America Corp DE lifted its holdings in shares of Youdao by 13,310.0% during the fourth quarter. Bank of America Corp DE now owns 32,050 shares of the company’s stock worth $237,000 after purchasing an additional 31,811 shares during the period. Jane Street Group LLC acquired a new stake in shares of Youdao in the 4th quarter valued at approximately $119,000. Finally, Marshall Wace LLP purchased a new position in shares of Youdao in the 4th quarter valued at about $479,000. 21.91% of the stock is currently 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.