Qutoutiao (NASDAQ:QTT) Trading 5.3% Higher

Shares of Qutoutiao Inc – (NASDAQ:QTT) traded up 5.3% on Friday . The stock traded as high as $4.25 and last traded at $4.20, 980,412 shares traded hands during mid-day trading. A decline of 53% from the average session volume of 2,107,822 shares. The stock had previously closed at $3.99.

Separately, Zacks Investment Research raised Qutoutiao from a “sell” rating to a “hold” rating in a research report on Tuesday, July 23rd. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Qutoutiao has a consensus rating of “Hold” and an average price target of $12.80.

The firm has a market cap of $1.13 billion and a price-to-earnings ratio of -2.00. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.72 and a current ratio of 1.72. The business has a 50 day simple moving average of $4.23 and a 200-day simple moving average of $7.76.

Qutoutiao (NASDAQ:QTT) last released its quarterly earnings results on Monday, May 20th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.01). The business had revenue of $165.80 million during the quarter, compared to analyst estimates of $161.90 million. As a group, research analysts anticipate that Qutoutiao Inc – will post -1.07 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio purchased a new position in Qutoutiao in the second quarter valued at approximately $59,000. Bank of Montreal Can purchased a new position in Qutoutiao in the second quarter valued at approximately $59,000. Enlightenment Research LLC purchased a new position in Qutoutiao in the second quarter valued at approximately $66,000. Vanguard Group Inc. purchased a new position in Qutoutiao in the second quarter valued at approximately $75,000. Finally, NumerixS Investment Technologies Inc purchased a new position in Qutoutiao in the second quarter valued at approximately $94,000. Hedge funds and other institutional investors own 0.52% of the company’s stock.

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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