Qutoutiao (NASDAQ:QTT) Trading 7.1% Higher

Qutoutiao Inc – (NASDAQ:QTT) traded up 7.1% during mid-day trading on Wednesday . The stock traded as high as $4.38 and last traded at $4.35, 1,808,216 shares were traded during trading. A decline of 15% from the average session volume of 2,123,434 shares. The stock had previously closed at $4.06.

Separately, Zacks Investment Research downgraded Qutoutiao from a “hold” rating to a “sell” rating in a report on Friday, September 6th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $12.80.

The stock has a market cap of $1.14 billion and a price-to-earnings ratio of -2.07. The business’s fifty day simple moving average is $4.26 and its 200 day simple moving average is $6.83. The company has a debt-to-equity ratio of 2.47, a current ratio of 2.20 and a quick ratio of 2.20.

Several large investors have recently modified their holdings of QTT. Enlightenment Research LLC acquired a new stake in shares of Qutoutiao during the 2nd quarter worth approximately $66,000. Bank of Montreal Can acquired a new stake in Qutoutiao in the second quarter worth $59,000. Public Employees Retirement System of Ohio acquired a new stake in Qutoutiao in the second quarter worth $59,000. Vanguard Group Inc. bought a new stake in Qutoutiao in the second quarter valued at $75,000. Finally, SG Americas Securities LLC bought a new stake in Qutoutiao in the first quarter valued at $236,000. 6.72% of the stock is currently owned by institutional investors.

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.

Further Reading: Bear Market – How and Why They Occur

Receive News & Ratings for Qutoutiao Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Qutoutiao and related companies with MarketBeat.com's FREE daily email newsletter.