Qutoutiao Inc’s Quiet Period To Expire on October 24th (NASDAQ:QTT)

Qutoutiao’s (NASDAQ:QTT) quiet period is set to expire on Wednesday, October 24th. Qutoutiao had issued 12,000,000 shares in its initial public offering on September 14th. The total size of the offering was $84,000,000 based on an initial share price of $7.00. During Qutoutiao’s quiet period, insiders and any underwriters that worked on the IPO are prevented from issuing any research reports for the company because of SEC regulations. Following the expiration of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

A number of brokerages have recently issued reports on QTT. Citigroup began coverage on shares of Qutoutiao in a research note on Thursday. They issued a “neutral” rating and a $8.40 price objective for the company. Deutsche Bank began coverage on shares of Qutoutiao in a research note on Thursday, October 11th. They issued a “hold” rating and a $8.00 price objective for the company. Finally, KeyCorp began coverage on shares of Qutoutiao in a research note on Tuesday, October 9th. They issued an “overweight” rating and a $11.00 price objective for the company.

Shares of QTT stock opened at $7.27 on Friday. Qutoutiao has a 52-week low of $6.53 and a 52-week high of $20.39.

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.

Further Reading: Book Value Per Share – BVPS

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