Qutoutiao (QTT) Lifted to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of Qutoutiao (NASDAQ:QTT) from a sell rating to a hold rating in a research report released on Thursday morning.
According to Zacks, “Qutoutiao Inc. is a mobile content aggregator primarily in China. The Company believes that it represents a new generation of technology-driven content platforms and its technology brings relevant information and entertainment to users, stimulates users’ desire to read and ultimately improves the knowledge exchange in society. Qutoutiao Inc. is based in SHANGHAI, China. “
QTT has been the topic of a number of other research reports. Deutsche Bank started coverage on Qutoutiao in a report on Thursday, October 11th. They issued a hold rating and a $8.00 price objective on the stock. KeyCorp started coverage on Qutoutiao in a research note on Tuesday, October 9th. They set an overweight rating and a $11.00 price target on the stock. Finally, Citigroup started coverage on Qutoutiao in a research note on Thursday, October 18th. They set a neutral rating and a $8.40 price target on the stock.
Qutoutiao (NASDAQ:QTT) last released its quarterly earnings data on Monday, November 12th. The company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.21). The firm had revenue of $142.28 million during the quarter, compared to analyst estimates of $131.40 million. On average, research analysts expect that Qutoutiao will post -1.86 earnings per share for the current year.
A hedge fund recently bought a new stake in Qutoutiao stock. Citadel Advisors LLC purchased a new position in shares of Qutoutiao Inc – (NASDAQ:QTT) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 65,418 shares of the company’s stock, valued at approximately $466,000. 0.14% of the stock is owned by hedge funds and other institutional investors.
Qutoutiao Inc develops an application for news in China. Qutoutiao Inc was formerly known as Qtech Ltd. and changed its name to Qutoutiao Inc in July 2018. The company was founded in 2016 and is based in Shanghai, China.
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