Youdao (NYSE:DAO) Downgraded by Citigroup to Neutral

Citigroup cut shares of Youdao (NYSE:DAO) from a buy rating to a neutral rating in a report issued on Thursday, Marketbeat Ratings reports.

Youdao Stock Performance

Shares of DAO stock opened at $7.07 on Thursday. The stock’s 50-day moving average is $5.73 and its two-hundred day moving average is $4.37. Youdao has a 1 year low of $2.86 and a 1 year high of $8.01. The firm has a market cap of $854.90 million, a price-to-earnings ratio of 101.00 and a beta of 0.04.

Hedge Funds Weigh In On Youdao

Institutional investors have recently modified their holdings of the business. Symmetry Peak Management LLC purchased a new stake in Youdao during the 3rd quarter valued at approximately $102,000. Renaissance Technologies LLC raised its stake in shares of Youdao by 6.7% during the second quarter. Renaissance Technologies LLC now owns 52,300 shares of the company’s stock worth $205,000 after purchasing an additional 3,300 shares during the last quarter. Finally, Acadian Asset Management LLC raised its stake in shares of 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 purchasing an additional 118,245 shares during the last quarter. 21.91% of the stock is 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.