Youdao (NYSE:DAO) Stock Price Down 6% – Time to Sell?

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

Wall Street Analysts Forecast Growth

Separately, Citigroup cut Youdao from a “buy” rating to a “neutral” rating in a research report on Thursday, December 19th.

Youdao Trading Down 5.6 %

The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of 149.51 and a beta of 0.03. The stock has a 50-day simple moving average of $7.67 and a 200 day simple moving average of $5.61.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. lifted its position in Youdao by 29.1% in the 4th quarter. Blue Trust Inc. now owns 8,733 shares of the company’s stock worth $65,000 after buying an additional 1,969 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of Youdao by 754.1% during the fourth quarter. Public Employees Retirement System of Ohio now owns 9,421 shares of the company’s stock worth $70,000 after acquiring an additional 8,318 shares in the last quarter. Jane Street Group LLC acquired a new stake in Youdao during the fourth quarter valued at $119,000. Vident Advisory LLC grew its stake in Youdao by 35.6% in the fourth 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 in the last quarter. Finally, Symmetry Peak Management LLC acquired a new position in Youdao in the 3rd quarter worth about $102,000. 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.