Youdao (NYSE:DAO) Trading Down 4.2% – Here’s Why

Youdao, Inc. (NYSE:DAO) shares dropped 4.2% during trading on Friday . The company traded as low as $4.91 and last traded at $4.99. Approximately 15,402 shares traded hands during trading, a decline of 86% from the average daily volume of 113,256 shares. The stock had previously closed at $5.21.

Youdao Stock Performance

The firm’s 50-day simple moving average is $4.68 and its 200 day simple moving average is $3.96. The company has a market cap of $626.37 million, a P/E ratio of 74.00 and a beta of -0.06.

Youdao (NYSE:DAO) last released its quarterly earnings data on Thursday, August 22nd. The company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($1.86) by $1.74. The business had revenue of $181.88 million during the quarter. Youdao had a negative return on equity of 3.12% and a net margin of 1.03%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Acadian Asset Management LLC raised its holdings in Youdao by 98.4% in the second quarter. Acadian Asset Management LLC now owns 238,445 shares of the company’s stock worth $928,000 after purchasing an additional 118,245 shares during the period. Renaissance Technologies LLC increased its position in shares of Youdao by 6.7% in 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, Symmetry Peak Management LLC acquired a new stake in Youdao during the 3rd quarter worth $102,000. Institutional investors own 21.91% of the company’s stock.

About Youdao

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.