Shares of Sogou Inc (NYSE:SOGO) hit a new 52-week low during trading on Friday . The company traded as low as $2.99 and last traded at $2.99, with a volume of 22615 shares trading hands. The stock had previously closed at $3.17.
Several analysts have recently weighed in on the company. ValuEngine cut Sogou from a “buy” rating to a “hold” rating in a report on Thursday, April 2nd. Goldman Sachs Group raised shares of Sogou from a “neutral” rating to a “buy” rating in a report on Thursday, April 30th. Credit Suisse Group downgraded shares of Sogou from an “outperform” rating to a “neutral” rating in a research note on Tuesday, March 10th. Finally, Zacks Investment Research upgraded shares of Sogou from a “hold” rating to a “buy” rating and set a $4.50 price target on the stock in a report on Tuesday, March 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $4.13.
The stock has a 50 day moving average of $3.42 and a 200 day moving average of $4.30. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of 19.73, a price-to-earnings-growth ratio of 4.01 and a beta of 1.05.
Hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC boosted its position in Sogou by 161.2% during the fourth quarter. Renaissance Technologies LLC now owns 2,063,016 shares of the company’s stock valued at $9,387,000 after acquiring an additional 1,273,216 shares during the last quarter. Norges Bank acquired a new position in shares of Sogou in the 4th quarter valued at about $4,484,000. BNP Paribas Arbitrage SA boosted its position in shares of Sogou by 2,586.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 925,100 shares of the company’s stock valued at $3,108,000 after purchasing an additional 890,660 shares in the last quarter. Krane Funds Advisors LLC grew its stake in Sogou by 77.0% during the fourth quarter. Krane Funds Advisors LLC now owns 1,253,906 shares of the company’s stock worth $5,705,000 after purchasing an additional 545,609 shares during the period. Finally, Prudential PLC increased its holdings in Sogou by 33.4% in the first quarter. Prudential PLC now owns 1,261,292 shares of the company’s stock worth $4,238,000 after purchasing an additional 316,134 shares in the last quarter. Institutional investors and hedge funds own 5.09% of the company’s stock.
About Sogou (NYSE:SOGO)
Sogou Inc provides search and search-related services in the People's Republic of China. The company provides Sogou Search, a search engine; and Sogou Input Method, a Chinese language input software for PC and mobile users. It also offers search and search-related advertising services; Internet value-added services related to the operation of Web games and mobile games developed by third parties; and online reading services, as well as other products and services, including smart hardware products.
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