Youdao (NYSE:DAO) Shares Gap Down – Here’s Why

Youdao, Inc. (NYSE:DAO)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $7.75, but opened at $7.00. Youdao shares last traded at $7.24, with a volume of 58,822 shares trading hands.

Analyst Ratings Changes

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

Youdao Stock Down 8.8 %

The company has a market cap of $854.90 million, a price-to-earnings ratio of 70.70 and a beta of 0.32. The company’s fifty day moving average price is $8.67 and its two-hundred day moving average price is $6.80.

Youdao (NYSE:DAO) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.10 earnings per share (EPS) for the quarter. The business had revenue of $183.55 million for the quarter. Youdao had a negative return on equity of 3.75% and a net margin of 1.50%.

Institutional Investors Weigh In On Youdao

Institutional investors and hedge funds have recently modified their holdings of the business. Blue Trust Inc. boosted its stake in Youdao by 29.1% in the fourth quarter. Blue Trust Inc. now owns 8,733 shares of the company’s stock valued at $65,000 after acquiring an additional 1,969 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of Youdao by 754.1% in the 4th quarter. Public Employees Retirement System of Ohio now owns 9,421 shares of the company’s stock valued at $70,000 after purchasing an additional 8,318 shares during the period. Jane Street Group LLC acquired a new position in shares of Youdao in the 4th quarter valued at $119,000. Vident Advisory LLC boosted its position in shares of Youdao by 35.6% in the 4th quarter. Vident Advisory LLC now owns 19,707 shares of the company’s stock worth $146,000 after purchasing an additional 5,170 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Youdao by 13,310.0% during the fourth quarter. Bank of America Corp DE now owns 32,050 shares of the company’s stock worth $237,000 after purchasing an additional 31,811 shares during the period. 21.91% of the stock is owned by institutional investors.

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.