Youdao (NYSE:DAO) Stock Price Down 8.5% – Here’s What Happened

Youdao, Inc. Unsponsored ADR (NYSE:DAO) shares traded down 8.5% on Monday . The stock traded as low as $11.13 and last traded at $11.0250. 84,678 shares traded hands during trading, a decline of 6% from the average daily volume of 90,391 shares. The stock had previously closed at $12.05.

Analysts Set New Price Targets

Several research firms recently issued reports on DAO. Weiss Ratings raised Youdao from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, June 11th. Wall Street Zen cut Youdao from a “buy” rating to a “hold” rating in a research note on Saturday, May 23rd. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Youdao currently has an average rating of “Hold”.

Youdao Trading Down 7.7%

The company’s 50 day moving average price is $11.51 and its two-hundred day moving average price is $10.63. The firm has a market cap of $1.34 billion, a PE ratio of 122.34 and a beta of 0.56.

Youdao (NYSE:DAO) last issued its quarterly earnings results on Thursday, May 21st. The company reported $0.05 EPS for the quarter, hitting analysts’ consensus estimates of $0.05. Youdao had a negative return on equity of 4.51% and a net margin of 1.19%.The business had revenue of $195.52 million during the quarter, compared to analysts’ expectations of $201.43 million.

Institutional Trading of Youdao

A hedge fund recently raised its stake in Youdao stock. Public Employees Retirement System of Ohio boosted its holdings in Youdao, Inc. Unsponsored ADR (NYSE:DAO) by 35.9% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 29,286 shares of the company’s stock after buying an additional 7,729 shares during the period. Public Employees Retirement System of Ohio’s holdings in Youdao were worth $291,000 as of its most recent SEC filing. 21.91% of the stock is currently owned by institutional investors.

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.