CooTek (Cayman) (NYSE:CTK) Stock Rating Lowered by Bank of America

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CooTek (Cayman) (NYSE:CTK) was downgraded by research analysts at Bank of America from a “buy” rating to an “underperform” rating in a research report issued to clients and investors on Wednesday, The Fly reports.

A number of other equities analysts have also weighed in on CTK. Credit Suisse Group restated an “outperform” rating and set a GBX 3,175 ($41.49) target price on shares of in a research report on Tuesday, June 4th. Zacks Investment Research upgraded shares of Flagstar Bancorp from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research report on Monday, July 8th. Finally, Citigroup upgraded shares of Neste Oyj from a “neutral” rating to a “buy” rating in a research report on Monday, June 10th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the company. CooTek (Cayman) presently has a consensus rating of “Hold” and a consensus target price of $16.50.

Shares of NYSE:CTK opened at $8.66 on Wednesday. The stock’s fifty day moving average is $9.23. CooTek has a fifty-two week low of $5.40 and a fifty-two week high of $13.30.

CooTek (Cayman) (NYSE:CTK) last issued its earnings results on Monday, June 3rd. The company reported $0.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.01. The company had revenue of $40.04 million for the quarter, compared to the consensus estimate of $40.10 million. On average, analysts expect that CooTek will post 0.22 EPS for the current year.

A hedge fund recently bought a new stake in CooTek (Cayman) stock. BlackRock Inc. acquired a new stake in shares of CooTek (Cayman) Inc. (NYSE:CTK) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 7,334 shares of the company’s stock, valued at approximately $61,000. Institutional investors own 1.69% of the company’s stock.

About CooTek (Cayman)

CooTek (Cayman) Inc operates as an AI and big data-driven mobile Internet company. Its primary product is TouchPal Smart Input, an input method for mobile devices that supports approximately 110 languages worldwide. The company was founded in 2008 and is based in Shanghai, the People's Republic of China.

See Also: Net Income

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