Youdao (NYSE:DAO) Shares Down 4.1% – What’s Next?

Shares of Youdao, Inc. (NYSE:DAO) fell 4.1% during trading on Thursday . The company traded as low as $7.02 and last traded at $7.10. 8,284 shares were traded during mid-day trading, a decline of 93% from the average session volume of 119,351 shares. The stock had previously closed at $7.40.

Wall Street Analysts Forecast Growth

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

Youdao Trading Down 0.7 %

The firm’s fifty day moving average price is $6.24 and its 200-day moving average price is $4.63. The company has a market cap of $856.11 million, a price-to-earnings ratio of 101.14 and a beta of 0.04.

Institutional Investors Weigh In On Youdao

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC lifted its position in shares of Youdao by 98.4% in the second quarter. Acadian Asset Management LLC now owns 238,445 shares of the company’s stock worth $928,000 after purchasing an additional 118,245 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Youdao by 6.7% in the 2nd 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, Symmetry Peak Management LLC acquired a new stake in Youdao during the 3rd quarter valued at $102,000. 21.91% of the stock is currently 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.