Youdao (NYSE:DAO) Lowered to “Neutral” Rating by Citigroup

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

Youdao Trading Down 2.9 %

NYSE DAO opened at $7.07 on Thursday. The stock has a market capitalization of $854.90 million, a price-to-earnings ratio of 101.00 and a beta of 0.04. The business’s 50 day moving average is $5.73 and its two-hundred day moving average is $4.37. Youdao has a 12-month low of $2.86 and a 12-month high of $8.01.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of DAO. Symmetry Peak Management LLC purchased a new stake in shares of Youdao during the 3rd quarter worth $102,000. Renaissance Technologies LLC lifted its stake in shares of Youdao by 6.7% in 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 during the period. Finally, Acadian Asset Management LLC boosted its holdings in Youdao by 98.4% during the second 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 in 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.