Qutoutiao (NASDAQ:QTT) Trading Down 5.6%
Qutoutiao Inc – (NASDAQ:QTT) shares traded down 5.6% on Friday . The company traded as low as $5.35 and last traded at $5.42, 2,021,578 shares were traded during trading. An increase of 87% from the average session volume of 1,081,290 shares. The stock had previously closed at $5.74.
A number of equities research analysts recently weighed in on the stock. ValuEngine raised shares of Qutoutiao from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 6th. Jefferies Financial Group initiated coverage on shares of Qutoutiao in a report on Thursday, December 5th. They set a “buy” rating and a $3.70 price target for the company. Zacks Investment Research upgraded shares of Qutoutiao from a “sell” rating to a “hold” rating in a research note on Wednesday, February 5th. Finally, BidaskClub upgraded shares of Qutoutiao from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 7th. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $11.34.
The stock’s 50-day moving average price is $4.30 and its 200-day moving average price is $3.82. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 2.47. The company has a market capitalization of $1.63 billion, a P/E ratio of -3.71 and a beta of 0.69.
A number of large investors have recently modified their holdings of QTT. Northern Trust Corp bought a new stake in Qutoutiao in the 2nd quarter valued at about $256,000. BlackRock Inc. bought a new stake in Qutoutiao in the 2nd quarter valued at about $2,277,000. Vanguard Group Inc. bought a new stake in Qutoutiao in the 2nd quarter valued at about $75,000. Morgan Stanley lifted its position in Qutoutiao by 2,551.6% in the 2nd quarter. Morgan Stanley now owns 2,182,491 shares of the company’s stock valued at $8,599,000 after purchasing an additional 2,100,184 shares during the last quarter. Finally, California Public Employees Retirement System bought a new stake in Qutoutiao in the 3rd quarter valued at about $856,000. Hedge funds and other institutional investors own 5.15% of the company’s stock.
Qutoutiao Company Profile (NASDAQ:QTT)
Qutoutiao Inc operates mobile platforms for the distribution, consumption, and sharing of light entertainment content in the People's Republic of China. The company operates Qutoutiao, a mobile application that aggregates articles and short videos from professional media and freelancers and presents customized feeds to users; and Quduopai, a mobile application that allows users to create, upload, and view videos.
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