Qutoutiao (QTT) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Qutoutiao (NASDAQ:QTT) from a sell rating to a hold rating in a report released on Thursday.

According to Zacks, “Qutoutiao Inc. is a mobile content aggregator primarily in China. The Company believes that it represents a new generation of technology-driven content platforms and its technology brings relevant information and entertainment to users, stimulates users’ desire to read and ultimately improves the knowledge exchange in society. Qutoutiao Inc. is based in SHANGHAI, China. “

A number of other research firms have also issued reports on QTT. Citigroup started coverage on Qutoutiao in a research note on Thursday, October 18th. They set a neutral rating and a $8.40 price objective on the stock. KeyCorp started coverage on Qutoutiao in a research report on Tuesday, October 9th. They set an overweight rating and a $11.00 price objective on the stock. Finally, Deutsche Bank started coverage on Qutoutiao in a report on Thursday, October 11th. They set a hold rating and a $8.00 target price for the company.

Shares of QTT stock opened at $9.01 on Thursday. Qutoutiao has a 12 month low of $4.00 and a 12 month high of $20.39.

Qutoutiao (NASDAQ:QTT) last posted its quarterly earnings data on Monday, November 12th. The company reported ($0.33) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.12) by ($0.21). The company had revenue of $142.28 million during the quarter, compared to the consensus estimate of $131.40 million. As a group, research analysts anticipate that Qutoutiao will post -1.86 earnings per share for the current year.

A hedge fund recently bought a new stake in Qutoutiao stock. Citadel Advisors LLC purchased a new stake in Qutoutiao Inc – (NASDAQ:QTT) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 65,418 shares of the company’s stock, valued at approximately $466,000. Institutional investors own 0.14% of the company’s stock.

Qutoutiao Company Profile

Qutoutiao Inc develops an application for news in China. Qutoutiao Inc was formerly known as Qtech Ltd. and changed its name to Qutoutiao Inc in July 2018. The company was founded in 2016 and is based in Shanghai, China.

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