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

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

Youdao Price Performance

DAO stock opened at $7.05 on Thursday. The firm has a 50 day simple moving average of $5.77 and a two-hundred day simple moving average of $4.40. The stock has a market cap of $852.49 million, a PE ratio of 100.71 and a beta of 0.04. Youdao has a one year low of $2.86 and a one year high of $8.01.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Symmetry Peak Management LLC bought a new stake in Youdao during the third quarter worth about $102,000. Renaissance Technologies LLC raised its holdings in shares of Youdao by 6.7% during the 2nd quarter. Renaissance Technologies LLC now owns 52,300 shares of the company’s stock valued at $205,000 after buying an additional 3,300 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its position 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 during the last quarter. Institutional investors own 21.91% of the company’s stock.

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.