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

Youdao, Inc. (NYSE:DAO) shares traded down 5.3% on Tuesday . The company traded as low as $7.20 and last traded at $7.19. 25,675 shares traded hands during mid-day trading, a decline of 65% from the average session volume of 73,829 shares. The stock had previously closed at $7.60.

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 Stock Performance

The business’s 50 day simple moving average is $6.90 and its 200-day simple moving average is $5.04. The company has a market cap of $943.78 million, a price-to-earnings ratio of 111.50 and a beta of 0.01.

Institutional Investors Weigh In On Youdao

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Blue Trust Inc. grew its stake in shares of Youdao by 29.1% in the 4th quarter. Blue Trust Inc. now owns 8,733 shares of the company’s stock valued at $65,000 after buying an additional 1,969 shares in the last quarter. Symmetry Peak Management LLC bought a new position in Youdao during the third quarter valued at approximately $102,000. Finally, Renaissance Technologies LLC lifted its stake in 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 acquiring an additional 3,300 shares during the last quarter. 21.91% of the stock is owned by hedge funds and other institutional investors.

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.