Youdao (NYSE:DAO) Stock Price Down 6% – What’s Next?

Youdao, Inc. (NYSE:DAO)’s share price was down 6% during mid-day trading on Wednesday . The stock traded as low as $10.33 and last traded at $10.42. Approximately 273,499 shares traded hands during mid-day trading, an increase of 57% from the average daily volume of 173,908 shares. The stock had previously closed at $11.09.

Wall Street Analysts Forecast Growth

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

Youdao Trading Down 1.3 %

The company has a market cap of $1.24 billion, a PE ratio of 146.43 and a beta of 0.03. The company’s 50 day moving average is $7.84 and its 200 day moving average is $5.72.

Youdao (NYSE:DAO) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.10 EPS for the quarter. The company had revenue of $183.55 million for the quarter. Youdao had a net margin of 1.03% and a negative return on equity of 3.12%.

Institutional Inflows and Outflows

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