Qutoutiao (NASDAQ:QTT) Lowered to “Sell” at Zacks Investment Research

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Zacks Investment Research downgraded shares of Qutoutiao (NASDAQ:QTT) from a hold rating to a sell rating in a report released on Saturday, Zacks.com reports.

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. “

Separately, BidaskClub raised Qutoutiao from a sell rating to a hold rating in a research report on Thursday, June 18th.

Qutoutiao stock opened at $2.85 on Friday. Qutoutiao has a one year low of $2.20 and a one year high of $6.55. The stock has a market capitalization of $798.85 million, a PE ratio of -2.05 and a beta of 0.97. The business’s fifty day moving average is $2.64 and its 200 day moving average is $3.51.

Qutoutiao (NASDAQ:QTT) last released its quarterly earnings data on Thursday, June 4th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.02). Qutoutiao had a negative net margin of 43.29% and a negative return on equity of 2,417.23%. The business had revenue of $202.24 million for the quarter. As a group, research analysts anticipate that Qutoutiao will post -0.52 earnings per share for the current fiscal year.

A number of hedge funds have recently bought and sold shares of the business. Paloma Partners Management Co lifted its holdings in Qutoutiao by 83.5% in the first quarter. Paloma Partners Management Co now owns 20,238 shares of the company’s stock valued at $48,000 after acquiring an additional 9,207 shares during the period. State Street Corp lifted its holdings in Qutoutiao by 4.7% in the first quarter. State Street Corp now owns 283,778 shares of the company’s stock valued at $678,000 after acquiring an additional 12,812 shares during the period. Engineers Gate Manager LP bought a new position in Qutoutiao in the first quarter valued at about $34,000. Two Sigma Advisers LP bought a new position in Qutoutiao in the first quarter valued at about $65,000. Finally, Jane Street Group LLC bought a new position in shares of Qutoutiao in the first quarter worth about $92,000. 3.95% of the stock is currently owned by institutional investors.

Qutoutiao Company Profile

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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