Qutoutiao (QTT) Upgraded at Zacks Investment Research

Qutoutiao (NASDAQ:QTT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors 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 analysts have also commented on the company. Deutsche Bank began coverage on Qutoutiao in a report on Thursday, October 11th. They issued a “hold” rating and a $8.00 price target on the stock. KeyCorp began coverage on Qutoutiao in a report on Tuesday, October 9th. They issued an “overweight” rating and a $11.00 price target on the stock. Finally, Citigroup began coverage on Qutoutiao in a report on Thursday, October 18th. They issued a “neutral” rating and a $8.40 price target on the stock.

Shares of Qutoutiao stock opened at $8.95 on Thursday. Qutoutiao has a 12 month low of $4.00 and a 12 month high of $20.39.

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

An institutional investor recently bought a new position in Qutoutiao stock. Citadel Advisors LLC purchased a new position in shares of Qutoutiao Inc – (NASDAQ:QTT) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 65,418 shares of the company’s stock, valued at approximately $466,000. Hedge funds and other institutional investors own 0.14% of the company’s stock.

About Qutoutiao

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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