Youdao (NYSE:DAO) Shares Down 6.2%

Shares of Youdao, Inc. (NYSE:DAO) fell 6.2% during mid-day trading on Thursday . The company traded as low as $13.80 and last traded at $13.81. 2,582 shares traded hands during mid-day trading, a decline of 99% from the average session volume of 280,736 shares. The stock had previously closed at $14.72.

Separately, Zacks Investment Research cut shares of Youdao from a “buy” rating to a “sell” rating in a research report on Monday, November 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $17.72.

The firm’s 50-day moving average is $13.22 and its 200-day moving average is $13.98.

Youdao (NYSE:DAO) last announced its quarterly earnings results on Tuesday, November 16th. The company reported ($1.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.61) by $1.56. The company had revenue of $215.30 million for the quarter. During the same quarter in the prior year, the company earned ($1.14) EPS.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada boosted its stake in Youdao by 67.1% during the third quarter. Royal Bank of Canada now owns 3,342 shares of the company’s stock worth $40,000 after acquiring an additional 1,342 shares in the last quarter. Citigroup Inc. boosted its stake in Youdao by 22.3% during the third quarter. Citigroup Inc. now owns 4,468 shares of the company’s stock worth $54,000 after acquiring an additional 814 shares in the last quarter. Daiwa Securities Group Inc. bought a new stake in Youdao during the third quarter worth about $55,000. Davy Global Fund Management Ltd bought a new stake in Youdao during the third quarter worth about $257,000. Finally, Bank of America Corp DE boosted its stake in Youdao by 23,908.5% during the second quarter. Bank of America Corp DE now owns 17,046 shares of the company’s stock worth $394,000 after acquiring an additional 16,975 shares in the last quarter. Institutional investors own 30.69% of the company’s stock.

Youdao Company Profile (NYSE:DAO)

Youdao, Inc, an internet technology company, provides online services in content, community, communication, and commerce in China. The company provides various learning content, applications, and solutions, which covers topics and targets people from various age groups for their learning needs through its websites and mobile applications; Youdao Dictionary with range of products and services addressing lifelong learning needs of pre-school, K-12 and college students as well as adult learners; and other online dictionary and translation tools comprising Youdao Translation, U-Dictionary, and Youdao Kids' Dictionary.

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