Jianpu Technology (JT) Trading Down 12.9%

Shares of Jianpu Technology Inc – (NYSE:JT) fell 12.9% during mid-day trading on Friday . The company traded as low as $5.34 and last traded at $5.49. 1,732,706 shares were traded during mid-day trading, an increase of 330% from the average session volume of 402,979 shares. The stock had previously closed at $6.30.

A number of research firms have issued reports on JT. JPMorgan Chase & Co. raised Jianpu Technology from a “neutral” rating to an “overweight” rating and raised their target price for the company from $5.50 to $9.50 in a report on Friday, March 1st. ValuEngine raised Jianpu Technology from a “hold” rating to a “buy” rating in a report on Thursday, January 31st.

The firm has a market cap of $1.06 billion, a PE ratio of -23.87 and a beta of 2.01.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in JT. Baillie Gifford & Co. grew its holdings in Jianpu Technology by 96.0% in the 4th quarter. Baillie Gifford & Co. now owns 3,719,720 shares of the company’s stock valued at $15,511,000 after buying an additional 1,822,264 shares during the last quarter. Yiheng Capital LLC grew its holdings in Jianpu Technology by 31.7% in the 4th quarter. Yiheng Capital LLC now owns 6,058,598 shares of the company’s stock valued at $25,264,000 after buying an additional 1,459,629 shares during the last quarter. Nordea Investment Management AB acquired a new stake in Jianpu Technology in the 3rd quarter valued at approximately $1,065,000. Wells Fargo & Company MN grew its holdings in Jianpu Technology by 1.9% in the 3rd quarter. Wells Fargo & Company MN now owns 6,941,275 shares of the company’s stock valued at $33,942,000 after buying an additional 132,282 shares during the last quarter. Finally, Krane Funds Advisors LLC grew its holdings in Jianpu Technology by 27.2% in the 3rd quarter. Krane Funds Advisors LLC now owns 269,573 shares of the company’s stock valued at $1,318,000 after buying an additional 57,661 shares during the last quarter. 11.97% of the stock is currently owned by hedge funds and other institutional investors.

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Jianpu Technology Company Profile (NYSE:JT)

Jianpu Technology Inc operates a platform that provides online discovery and recommendation services for financial products in the People's Republic of China. Its platform allows users to access to financial products, including consumer and other loans, credit cards, and wealth management products.

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