Qutoutiao (NASDAQ:QTT) Rating Increased to Hold at Zacks Investment Research

Qutoutiao (NASDAQ:QTT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Friday, Zacks.com reports.

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 downgraded Qutoutiao from a “buy” rating to a “hold” rating and set a $10.00 price objective on the stock. in a report on Wednesday, February 20th. UBS Group downgraded Qutoutiao from a “buy” rating to a “neutral” rating and set a $14.00 price objective on the stock. in a report on Friday, February 15th. Finally, Citigroup raised Qutoutiao from a “neutral” rating to a “buy” rating and decreased their target price for the company from $16.00 to $14.00 in a research report on Tuesday, April 16th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $12.80.

QTT opened at $4.52 on Friday. Qutoutiao has a one year low of $4.00 and a one year high of $20.39. The stock has a market capitalization of $1.21 billion and a PE ratio of -2.15. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 0.02.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC acquired a new stake in shares of Qutoutiao in the 4th quarter valued at about $4,510,000. Morgan Stanley boosted its position in shares of Qutoutiao by 164,514.0% in the 1st quarter. Morgan Stanley now owns 82,307 shares of the company’s stock valued at $953,000 after purchasing an additional 82,257 shares during the period. BlackRock Inc. acquired a new stake in shares of Qutoutiao in the 4th quarter valued at about $399,000. SG Americas Securities LLC acquired a new stake in shares of Qutoutiao in the 1st quarter valued at about $236,000. Finally, Hsbc Holdings PLC acquired a new stake in shares of Qutoutiao in the 1st quarter valued at about $181,000. 0.35% of the stock is owned by hedge funds and other institutional investors.

About Qutoutiao

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: Cost of Equity For A Business, Investors

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