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.
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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