Youdao (NYSE:DAO) Cut to “Neutral” at Citigroup

Youdao (NYSE:DAO) was downgraded by Citigroup from a “buy” rating to a “neutral” rating in a research note issued on Thursday,Finviz reports.

Youdao Price Performance

NYSE DAO traded down $0.46 on Thursday, reaching $6.82. The company had a trading volume of 98,785 shares, compared to its average volume of 119,052. Youdao has a 1 year low of $2.86 and a 1 year high of $8.01. The firm has a market capitalization of $824.67 million, a PE ratio of 97.43 and a beta of 0.04. The firm has a 50-day moving average of $5.69 and a 200-day moving average of $4.36.

Hedge Funds Weigh In On Youdao

A number of institutional investors have recently made changes to their positions in the business. Symmetry Peak Management LLC acquired a new stake in shares of Youdao in the 3rd quarter worth about $102,000. Renaissance Technologies LLC grew its holdings in Youdao by 6.7% in the 2nd quarter. Renaissance Technologies LLC now owns 52,300 shares of the company’s stock worth $205,000 after buying an additional 3,300 shares in the last quarter. Finally, Acadian Asset Management LLC grew its holdings in Youdao by 98.4% in the 2nd 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. 21.91% of the stock is 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.