Youdao (NYSE:DAO) Shares Down 3.5% – Time to Sell?

Youdao, Inc. (NYSE:DAO)’s share price fell 3.5% during trading on Tuesday . The stock traded as low as $8.90 and last traded at $8.94. 37,144 shares traded hands during trading, a decline of 76% from the average session volume of 153,405 shares. The stock had previously closed at $9.26.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded Youdao from a “buy” rating to a “hold” rating in a report on Thursday, May 22nd.

Youdao Stock Down 3.6%

The business has a fifty day simple moving average of $8.20 and a two-hundred day simple moving average of $7.78. The company has a market cap of $1.07 billion, a P/E ratio of 89.45 and a beta of 0.35.

Youdao (NYSE:DAO) last issued its quarterly earnings results on Thursday, May 15th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.12). Youdao had a negative return on equity of 3.75% and a net margin of 1.50%. The business had revenue of $191.74 million during the quarter, compared to analysts’ expectations of $1.30 billion.

Hedge Funds Weigh In On Youdao

Hedge funds have recently added to or reduced their stakes in the company. Walleye Capital LLC boosted its position in Youdao by 226.1% during the 1st quarter. Walleye Capital LLC now owns 176,599 shares of the company’s stock valued at $1,347,000 after acquiring an additional 122,450 shares in the last quarter. Norges Bank purchased a new stake in Youdao in the 4th quarter worth approximately $715,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Youdao during the 4th quarter valued at about $554,000. Marshall Wace LLP acquired a new stake in Youdao in the 4th quarter valued at $479,000. Finally, Vident Advisory LLC increased its stake in Youdao by 190.2% during the 1st quarter. Vident Advisory LLC now owns 57,192 shares of the company’s stock worth $436,000 after buying an additional 37,485 shares in the last quarter. 21.91% of the stock is currently 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.