CooTek (Cayman) (NYSE:CTK) Rating Lowered to Underperform at Bank of America

Bank of America downgraded shares of CooTek (Cayman) (NYSE:CTK) from a buy rating to an underperform rating in a report released on Wednesday, The Fly reports.

CTK has been the topic of a number of other research reports. Zacks Investment Research upgraded Flagstar Bancorp from a hold rating to a buy rating and set a $38.00 price objective on the stock in a research report on Monday, July 8th. Credit Suisse Group reiterated an outperform rating and set a GBX 3,175 ($41.49) price objective on shares of in a research report on Tuesday, June 4th. Finally, Citigroup upgraded Neste Oyj from a neutral rating to a buy rating in a research report on Monday, June 10th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the company. CooTek (Cayman) has a consensus rating of Hold and a consensus target price of $16.50.

Shares of CooTek (Cayman) stock opened at $7.90 on Wednesday. CooTek has a one year low of $5.40 and a one year high of $13.30. The stock’s 50 day moving average is $9.18.

CooTek (Cayman) (NYSE:CTK) last announced its quarterly earnings data on Monday, June 3rd. The company reported $0.02 EPS for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.01. The company had revenue of $40.04 million for the quarter, compared to analysts’ expectations of $40.10 million. As a group, analysts forecast that CooTek will post 0.22 EPS for the current year.

An institutional investor recently bought a new position in CooTek (Cayman) stock. BlackRock Inc. bought a new stake in CooTek (Cayman) Inc. (NYSE:CTK) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 7,334 shares of the company’s stock, valued at approximately $61,000. 1.69% of the stock is owned by institutional investors.

CooTek (Cayman) Company Profile

CooTek (Cayman) Inc operates as an AI and big data-driven mobile Internet company. Its primary product is TouchPal Smart Input, an input method for mobile devices that supports approximately 110 languages worldwide. The company was founded in 2008 and is based in Shanghai, the People's Republic of China.

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