Shares of Qutoutiao Inc – (NASDAQ:QTT) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $3.82 and last traded at $3.88, with a volume of 56761 shares changing hands. The stock had previously closed at $4.04.
Several equities research analysts recently issued reports on the company. Citigroup raised Qutoutiao from a “neutral” rating to a “buy” rating and dropped their price target for the company from $16.00 to $14.00 in a research report on Tuesday, April 16th. Zacks Investment Research raised Qutoutiao from a “sell” rating to a “hold” rating in a research report on Tuesday, July 23rd. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $12.80.
The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $1.14 billion and a price-to-earnings ratio of -1.76. The company’s 50-day moving average is $4.35.
A number of hedge funds and other institutional investors have recently modified their holdings of QTT. Stevens Capital Management LP bought a new position in shares of Qutoutiao in the second quarter worth $142,000. SG Americas Securities LLC bought a new position in shares of Qutoutiao in the first quarter worth $236,000. BlackRock Inc. bought a new position in shares of Qutoutiao in the fourth quarter worth $399,000. Finally, FMR LLC bought a new position in shares of Qutoutiao in the fourth quarter worth $4,510,000. 0.35% of the stock is currently owned by hedge funds and other institutional investors.
About Qutoutiao (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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