Qutoutiao Inc – (NASDAQ:QTT) reached a new 52-week low during trading on Tuesday . The company traded as low as $2.56 and last traded at $2.75, with a volume of 1655510 shares. The stock had previously closed at $2.85.
QTT has been the topic of several recent research reports. Jefferies Financial Group initiated coverage on shares of Qutoutiao in a report on Thursday, December 5th. They set a “buy” rating and a $3.70 target price on the stock. Zacks Investment Research cut shares of Qutoutiao from a “hold” rating to a “sell” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. Qutoutiao currently has an average rating of “Hold” and a consensus target price of $11.34.
The stock has a market capitalization of $779.02 million, a PE ratio of -1.30 and a beta of 0.68. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 2.47. The company’s 50-day moving average is $3.37 and its 200 day moving average is $3.97.
Hedge funds and other institutional investors have recently modified their holdings of the company. Enlightenment Research LLC acquired a new stake in shares of Qutoutiao during the 2nd quarter worth approximately $66,000. Bank of Montreal Can acquired a new stake in shares of Qutoutiao during the 2nd quarter worth approximately $59,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Qutoutiao during the 2nd quarter worth approximately $59,000. Vanguard Group Inc. acquired a new stake in shares of Qutoutiao during the 2nd quarter worth approximately $75,000. Finally, NumerixS Investment Technologies Inc acquired a new stake in shares of Qutoutiao during the 2nd quarter worth approximately $94,000. 5.15% of the stock is currently owned by institutional investors and hedge funds.
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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