Youdao (NYSE:DAO) Stock Price Down 3.9% – Here’s Why

Youdao, Inc. Unsponsored ADR (NYSE:DAO) shares traded down 3.9% during trading on Thursday . The company traded as low as $10.72 and last traded at $10.83. 118,813 shares were traded during mid-day trading, a decline of 1% from the average session volume of 120,358 shares. The stock had previously closed at $11.27.

Analysts Set New Price Targets

A number of equities analysts have issued reports on DAO shares. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Youdao in a report on Monday, December 22nd. Wall Street Zen downgraded Youdao from a “buy” rating to a “hold” rating in a research note on Sunday, November 30th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of “Sell”.

Youdao Price Performance

The firm has a market capitalization of $1.29 billion, a P/E ratio of 63.52 and a beta of 0.27. The stock has a fifty day simple moving average of $10.05 and a two-hundred day simple moving average of $9.71.

Institutional Investors Weigh In On Youdao

An institutional investor recently raised its position in Youdao stock. Public Employees Retirement System of Ohio boosted its holdings in Youdao, Inc. Unsponsored ADR (NYSE:DAO) by 34.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,557 shares of the company’s stock after buying an additional 5,565 shares during the period. Public Employees Retirement System of Ohio’s holdings in Youdao were worth $185,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 21.91% of the company’s stock.

About Youdao

Youdao, Inc (NYSE: DAO), established in 2006 as a subsidiary of NetEase, is headquartered in Beijing, China. The company went public on the New York Stock Exchange in October 2019, marking a significant milestone in its development as an intelligent learning and knowledge service provider. Since its inception, Youdao has combined cloud computing, artificial intelligence and big data analytics to create an adaptive learning ecosystem designed to meet the needs of individual learners and organizations.

At the core of Youdao’s offerings is its suite of digital dictionaries and translation tools, including the flagship Youdao Dictionary app and translation engine.